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

Bank of New York Mellon Corp cut its position in shares of The Buckle, Inc. (NYSE:BKE) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 539,048 shares of the company’s stock after selling 29,549 shares during the period. Bank of New York Mellon Corp owned approximately 1.06% of Buckle worth $27,389,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in Buckle in the fourth quarter worth about $524,000. Handelsbanken Fonder AB raised its holdings in shares of Buckle by 25.3% in the fourth quarter. Handelsbanken Fonder AB now owns 10,900 shares of the company’s stock worth $554,000 after buying an additional 2,200 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Buckle by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 161,636 shares of the company’s stock worth $8,213,000 after acquiring an additional 6,000 shares during the last quarter. Monument Capital Management boosted its holdings in Buckle by 36.8% during the 4th quarter. Monument Capital Management now owns 8,985 shares of the company’s stock valued at $457,000 after acquiring an additional 2,419 shares during the period. Finally, Everhart Financial Group Inc. boosted its holdings in Buckle by 8.1% during the 4th quarter. Everhart Financial Group Inc. now owns 8,149 shares of the company’s stock valued at $414,000 after acquiring an additional 609 shares during the period. 53.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Buckle news, EVP Kari G. Smith sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $52.29, for a total transaction of $1,045,800.00. Following the transaction, the executive vice president now owns 150,554 shares of the company’s stock, valued at approximately $7,872,468.66. This trade represents a 11.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Peetz sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $51.70, for a total transaction of $129,250.00. Following the completion of the sale, the director now directly owns 22,123 shares of the company’s stock, valued at $1,143,759.10. The trade was a 10.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,882 shares of company stock worth $5,621,453. 39.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com downgraded Buckle from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group raised shares of Buckle from a “sell” rating to a “neutral” rating and raised their price target for the stock from $31.00 to $46.00 in a research note on Tuesday, November 12th.

Buckle Stock Performance

Buckle stock opened at $38.33 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of 9.73 and a beta of 1.17. The company has a 50 day moving average price of $45.68 and a 200-day moving average price of $45.80. The Buckle, Inc. has a fifty-two week low of $34.87 and a fifty-two week high of $54.25.

Buckle Cuts Dividend

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

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.