The Buckle, Inc. (NYSE:BKE) Short Interest Up 7.8% in September

The Buckle, Inc. (NYSE:BKE) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 3,040,000 shares, an increase of 7.8% from the August 31st total of 2,820,000 shares. Based on an average daily trading volume, of 396,600 shares, the short-interest ratio is currently 7.7 days. Approximately 9.9% of the company’s shares are sold short.

Buckle Price Performance

BKE stock opened at $42.98 on Wednesday. Buckle has a 1-year low of $30.31 and a 1-year high of $48.15. The business has a fifty day moving average price of $42.09 and a 200-day moving average price of $39.21. The stock has a market capitalization of $2.18 billion, a P/E ratio of 10.14 and a beta of 1.13.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, August 23rd. The company reported $0.78 EPS for the quarter. The firm had revenue of $282.39 million during the quarter. Buckle had a net margin of 16.69% and a return on equity of 46.17%.

Buckle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.40 annualized dividend and a dividend yield of 3.26%. Buckle’s payout ratio is 33.02%.

Analysts Set New Price Targets

A number of research firms have issued reports on BKE. StockNews.com downgraded Buckle from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. UBS Group cut their price target on Buckle from $32.00 to $31.00 and set a “sell” rating on the stock in a research note on Monday, August 26th.

Insider Transactions at Buckle

In other news, SVP Brett P. Milkie sold 16,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $41.35, for a total transaction of $661,600.00. Following the completion of the sale, the senior vice president now owns 80,170 shares of the company’s stock, valued at $3,315,029.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Buckle news, Director John P. Peetz sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.26, for a total value of $100,650.00. Following the completion of the transaction, the director now directly owns 24,623 shares in the company, valued at approximately $991,321.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brett P. Milkie sold 16,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $41.35, for a total transaction of $661,600.00. Following the completion of the sale, the senior vice president now owns 80,170 shares of the company’s stock, valued at $3,315,029.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,799 shares of company stock worth $5,033,569. Company insiders own 39.80% of the company’s stock.

Hedge Funds Weigh In On Buckle

A number of institutional investors and hedge funds have recently modified their holdings of BKE. Redhawk Wealth Advisors Inc. boosted its position in Buckle by 2.7% in the second quarter. Redhawk Wealth Advisors Inc. now owns 13,927 shares of the company’s stock worth $514,000 after purchasing an additional 370 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Buckle by 2.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the company’s stock worth $550,000 after purchasing an additional 400 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Buckle by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,719 shares of the company’s stock valued at $802,000 after purchasing an additional 410 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Buckle by 3.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 16,163 shares of the company’s stock valued at $597,000 after buying an additional 494 shares during the last quarter. Finally, Hancock Whitney Corp lifted its position in Buckle by 3.7% during the first quarter. Hancock Whitney Corp now owns 15,094 shares of the company’s stock valued at $608,000 after purchasing an additional 533 shares during the last quarter. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Buckle Company Profile

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.