Buckle Inc Same-Store Sales Rise 6.2% in July (NYSE:BKE)

Buckle’s (NYSE:BKE) same store sales increased by 6.2% in the month of July. Buckle’s stock climbed by 3.2% in the first day of trading following the news.

Several brokerages have weighed in on BKE. ValuEngine raised Buckle from a “sell” rating to a “hold” rating in a report on Friday, July 12th. TheStreet lowered Buckle from a “b-” rating to a “c” rating in a report on Friday, May 24th. Finally, Zacks Investment Research raised Buckle from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, July 10th.

Shares of NYSE BKE opened at $17.45 on Friday. The stock has a fifty day simple moving average of $18.78 and a two-hundred day simple moving average of $18.06. Buckle has a 1-year low of $14.81 and a 1-year high of $29.65. The firm has a market cap of $871.37 million, a price-to-earnings ratio of 8.86 and a beta of 0.76. The company has a current ratio of 2.30, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, May 24th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Buckle had a net margin of 10.47% and a return on equity of 22.96%. The firm had revenue of $201.31 million for the quarter, compared to the consensus estimate of $200.93 million. During the same period last year, the company posted $0.38 earnings per share. Buckle’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts forecast that Buckle will post 1.78 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.73%. The ex-dividend date of this dividend was Thursday, July 11th. Buckle’s dividend payout ratio (DPR) is 50.76%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC bought a new position in shares of Buckle during the second quarter valued at about $1,952,000. OneAscent Financial Services LLC bought a new position in shares of Buckle during the second quarter valued at about $206,000. Jane Street Group LLC bought a new position in shares of Buckle during the second quarter valued at about $341,000. Point72 Asset Management L.P. bought a new position in shares of Buckle during the second quarter valued at about $707,000. Finally, Summit Street Capital Management LLC grew its stake in shares of Buckle by 12.3% during the second quarter. Summit Street Capital Management LLC now owns 143,688 shares of the company’s stock valued at $2,487,000 after buying an additional 15,759 shares during the last quarter. 65.95% of the stock is owned by institutional investors and hedge funds.

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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, FITZ + EDDI, Outpost Makers, Departwest, and Veece.

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