Principal Financial Group Inc. Reduces Stock Position in The Buckle, Inc. (NYSE:BKE)

Principal Financial Group Inc. lessened its stake in shares of The Buckle, Inc. (NYSE:BKE - Free Report) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,636 shares of the company's stock after selling 14,567 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of Buckle worth $6,843,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BKE. Blue Trust Inc. lifted its position in Buckle by 52.0% in the third quarter. Blue Trust Inc. now owns 789 shares of the company's stock valued at $35,000 after acquiring an additional 270 shares during the last quarter. Unison Advisors LLC lifted its holdings in shares of Buckle by 0.9% in the 3rd quarter. Unison Advisors LLC now owns 37,859 shares of the company's stock valued at $1,665,000 after purchasing an additional 334 shares during the last quarter. Quarry LP lifted its holdings in shares of Buckle by 60.9% in the 3rd quarter. Quarry LP now owns 938 shares of the company's stock valued at $41,000 after purchasing an additional 355 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Buckle by 0.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 59,961 shares of the company's stock valued at $2,636,000 after purchasing an additional 396 shares during the period. Finally, DGS Capital Management LLC grew its stake in Buckle by 6.8% during the 3rd quarter. DGS Capital Management LLC now owns 7,131 shares of the company's stock worth $314,000 after buying an additional 451 shares during the last quarter. Institutional investors and hedge funds own 53.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Kari G. Smith sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $52.29, for a total transaction of $1,045,800.00. Following the completion of the transaction, the executive vice president now directly owns 150,554 shares of the company's stock, valued at approximately $7,872,468.66. This represents a 11.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dennis H. Nelson sold 20,453 shares of Buckle stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $43.00, for a total value of $879,479.00. Following the completion of the sale, the chief executive officer now owns 1,842,999 shares in the company, valued at approximately $79,248,957. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,265 shares of company stock worth $6,414,313. 39.80% of the stock is owned by insiders.

Buckle Trading Down 0.8 %

Shares of NYSE BKE traded down $0.43 during midday trading on Wednesday, reaching $50.81. 381,645 shares of the company were exchanged, compared to its average volume of 410,793. The stock has a market cap of $2.58 billion, a P/E ratio of 12.90 and a beta of 1.14. The Buckle, Inc. has a 1 year low of $34.87 and a 1 year high of $54.25. The stock has a fifty day simple moving average of $48.86 and a 200 day simple moving average of $43.67.

Buckle (NYSE:BKE - Get Free Report) last announced its earnings results on Friday, November 22nd. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). Buckle had a net margin of 16.21% and a return on equity of 44.11%. The company had revenue of $293.60 million during the quarter, compared to analysts' expectations of $293.60 million. During the same quarter last year, the business posted $1.04 earnings per share. The company's revenue for the quarter was down 3.3% compared to the same quarter last year.

Buckle Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a yield of 2.6%. Buckle's payout ratio is currently 35.53%.

Wall Street Analysts Forecast Growth

BKE has been the subject of a number of research reports. StockNews.com cut Buckle from a "buy" rating to a "hold" rating in a research note on Thursday, December 26th. UBS Group upgraded shares of Buckle from a "sell" rating to a "neutral" rating and upped their price target for the company from $31.00 to $46.00 in a research report on Tuesday, November 12th.

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.