Buckle Inc Same Store Sales Down 0.8% in June, Stock Drops by 0.3% (NYSE:BKE)

Buckle’s (NYSE:BKE) same-store sales dropped 0.8% during the month of June. Buckle’s stock dropped by 0.3% in the first day of trading following the news.

A number of equities research analysts have issued reports on BKE shares. TheStreet downgraded shares of WESCO International from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.

Shares of BKE stock opened at $19.90 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.30 and a debt-to-equity ratio of 0.75. The company has a market cap of $946.69 million, a P/E ratio of 10.10 and a beta of 0.74. Buckle has a 52-week low of $14.81 and a 52-week high of $29.65. The stock has a 50-day moving average price of $17.05.

Buckle (NYSE:BKE) last released its earnings results on Friday, May 24th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). The company had revenue of $201.31 million during the quarter, compared to analysts’ expectations of $200.93 million. Buckle had a net margin of 10.47% and a return on equity of 22.96%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, research analysts predict that Buckle will post 1.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Thursday, July 11th. Buckle’s payout ratio is 50.76%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Buckle by 2.9% in the fourth quarter. BlackRock Inc. now owns 4,123,876 shares of the company’s stock valued at $79,756,000 after acquiring an additional 114,450 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Buckle by 1.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,109,616 shares of the company’s stock valued at $19,210,000 after acquiring an additional 11,835 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Buckle by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 827,994 shares of the company’s stock valued at $16,013,000 after acquiring an additional 16,545 shares during the last quarter. Norges Bank purchased a new position in Buckle in the fourth quarter valued at about $11,332,000. Finally, RK Asset Management LLC boosted its stake in Buckle by 217.1% in the second quarter. RK Asset Management LLC now owns 369,868 shares of the company’s stock valued at $6,402,000 after acquiring an additional 253,225 shares during the last quarter. Hedge funds and other institutional investors own 67.09% of the company’s stock.

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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