Bank of New York Mellon Corp Lowers Holdings in Buckle, Inc. (The) (NYSE:BKE)

Bank of New York Mellon Corp reduced its position in Buckle, Inc. (The) (NYSE:BKE) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 523,404 shares of the company’s stock after selling 15,644 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of Buckle worth $20,057,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Caption Management LLC purchased a new stake in shares of Buckle in the fourth quarter valued at about $36,000. Bellwether Advisors LLC purchased a new position in Buckle during the fourth quarter worth about $43,000. PNC Financial Services Group Inc. boosted its holdings in Buckle by 15.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,756 shares of the company’s stock valued at $89,000 after purchasing an additional 240 shares in the last quarter. State of Wyoming purchased a new stake in Buckle in the 4th quarter valued at approximately $111,000. Finally, Viking Fund Management LLC acquired a new position in Buckle during the 1st quarter worth approximately $115,000. 53.93% of the stock is owned by institutional investors and hedge funds.

Buckle Trading Down 0.2%

BKE stock opened at $48.02 on Friday. The company’s 50-day moving average price is $44.16 and its 200 day moving average price is $42.04. Buckle, Inc. has a 52 week low of $33.12 and a 52 week high of $54.25. The company has a market cap of $2.46 billion, a P/E ratio of 12.34 and a beta of 1.03.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, May 23rd. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $272.12 million for the quarter, compared to analyst estimates of $264.28 million. Buckle had a return on equity of 43.13% and a net margin of 15.95%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS.

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, July 15th. Buckle’s dividend payout ratio (DPR) is 35.99%.

Insider Buying and Selling at Buckle

In related news, CEO Dennis H. Nelson sold 43,915 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $39.72, for a total value of $1,744,303.80. Following the sale, the chief executive officer directly owned 1,706,335 shares in the company, valued at $67,775,626.20. The trade was a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 97,151 shares of company stock valued at $3,955,563 in the last three months. Company insiders own 39.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BKE shares. UBS Group restated a “neutral” rating on shares of Buckle in a research note on Wednesday, May 14th. Wall Street Zen raised Buckle from a “hold” rating to a “buy” rating in a report on Friday, May 23rd.

About Buckle

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.