Buckle (NYSE:BKE) Cut to Hold at StockNews.com

StockNews.com cut shares of Buckle (NYSE:BKE) from a buy rating to a hold rating in a report issued on Tuesday morning.

Separately, UBS Group raised shares of Buckle from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $31.00 to $46.00 in a report on Tuesday, November 12th.

Buckle Stock Performance

BKE stock opened at $39.15 on Tuesday. The company has a market capitalization of $1.99 billion, a P/E ratio of 9.94 and a beta of 1.14. Buckle has a 52-week low of $34.87 and a 52-week high of $54.25. The business has a 50-day simple moving average of $47.22 and a two-hundred day simple moving average of $45.92.

Buckle Cuts Dividend

The company also recently declared a special dividend, which was paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th were given a dividend of $2.50 per share. The ex-dividend date was Wednesday, January 15th. This represents a dividend yield of 2.6%. Buckle’s dividend payout ratio (DPR) is currently 35.53%.

Insider Activity

In other news, Director John P. Peetz sold 2,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $51.70, for a total transaction of $129,250.00. Following the completion of the transaction, the director now directly owns 22,123 shares in the company, valued at $1,143,759.10. The trade was a 10.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dennis H. Nelson sold 20,453 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $40.86, for a total transaction of $835,709.58. Following the completion of the transaction, the chief executive officer now owns 1,678,375 shares of the company’s stock, valued at $68,578,402.50. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,995 shares of company stock worth $6,103,061 in the last three months. Corporate insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Novem Group purchased a new position in Buckle in the fourth quarter worth $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Buckle by 24.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,021 shares of the company’s stock worth $3,304,000 after acquiring an additional 12,722 shares in the last quarter. Squarepoint Ops LLC grew its position in Buckle by 138.8% in the fourth quarter. Squarepoint Ops LLC now owns 124,986 shares of the company’s stock worth $6,351,000 after acquiring an additional 72,652 shares in the last quarter. Tidal Investments LLC purchased a new position in Buckle in the fourth quarter worth $1,512,000. Finally, State of Wyoming purchased a new position in Buckle in the fourth quarter worth $111,000. 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.