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Buckle (BKE) Up Above 60% YTD: Here's What You Should Know
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Shares of The Buckle, Inc. (BKE - Free Report) have increased 64.7% on a year-to-date basis, thanks to a solid momentum in the e-commerce business. Also, robust gains from BKE’s women’s and men’s merchandise categories have been contributing to the performance for a while. Buckle has been putting up a stellar show for the past few months. Its solid sales momentum continued through November. In a latest release, management hiked the quarterly dividend by 6.1% and announced a special cash dividend.
We note that the industry to which Buckle belongs has declined 7.6% so far this year.
Let’s delve deeper.
Dividend Updates
Recently, BKE’s board authorized a $5.65 per share special cash dividend. This dividend is to be paid out to its shareholders of record as of Dec 20, 2021. In addition, management increased the quarterly dividend to 35 cents, mirroring a raise of 2 cents a share and is payable to its shareholders of record on Dec 20, 2021.
A total dividend of $6 per share will be paid out on Dec 29, 2021. The annualized dividend rate is brought to $1.40 per share. Based on its share price of $48.07 on Dec 6, Buckle has a dividend yield of 2.9%. BKE has a current dividend payout ratio of 28%.
Dividend payouts are the biggest enticement for investors while hikes in the same not only boost shareholder returns but also raise the stock market value. The latest dividend hike also reflects Buckle’s cash funds that are used in returning value to its shareholders via dividends and its commitment to maximize shareholder returns.
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Marvelous Sales Run
Buckle’s net sales for the four-week fiscal month ended Nov 27, 2021 rose 35.9% to $117.3 million from $86.3 million recorded in the four-week fiscal month ended Nov 28, 2020. This apparel, footwear and accessories retailer registered a sales increase of 23.6%, 17.3% and 43%, respectively, in the preceding three months.
For the fiscal month under review, comparable store net sales for stores open at least for a year climbed 36% year over year. The metric jumped 23.3%, 17.8% and 42.7%, respectively, in the prior months.
For the four-week fiscal month ended Nov 27, 2021, total sales at the men’s unit increased 36.5% from the figure recorded in the four-week period ended Nov 28, 2020 while the metric at the women’s business jumped 34%. While the men’s category contributed 55% to BKE’s overall monthly sales, the women’s unit accounted for 45%.
On combining the men’s and women’s categories, accessory sales for the fiscal month climbed 38% while footwear sales rose 26.5% from the figure registered in the comparable November of fiscal 2020. The accessory and footwear categories accounted for 8.5% and 10.5%, respectively, of the overall fiscal November 2021 sales. For the comparable period in fiscal 2020, these categories constituted 8.5% and 11.5%, respectively.
During third-quarter fiscal 2021, net sales jumped 27.3% year over year to $319.4 million. Also, comparable store net sales increased 27.3% year over year and online sales rose 9% to $50.5 million for the 13-week period ended October 30, 2021. The Kearney, NE-based BKE currently operates 441 retail outlets across 42 states.
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, sports a Zacks Rank of 1 at present. The stock has jumped 179.8% in the year-to-date period.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and earnings per share (EPS) suggests growth of 54.4% and 183.3%, respectively, from the year-ago period’s corresponding figures. BOOT has a trailing four-quarter earnings surprise of 35.3%, on average.
Tractor Supply Company, a rural lifestyle retailer in the United States, flaunts a Zacks Rank of 1, currently. TSCO has a trailing four-quarter earnings surprise of 22.8%, on average. Shares of TSCO have surged 61.8% year to date.
The Zacks Consensus Estimate for Tractor Supply Company’s current-year sales and EPS suggests growth of 19% and 23.9%, respectively, from the year-ago period’s corresponding readings. TSCO has an expected EPS growth rate of 9.6% for three-five years.
Target, a renowned omnichannel retailer, presently carries a Zacks Rank #2 (Buy). TGT has a trailing four-quarter earnings surprise of 19.7%, on average. The stock has rallied 37.8% in the year-to-date period.
The Zacks Consensus Estimate for Target’s current-year sales and EPS suggests growth of 14% and 39.6%, respectively, from the corresponding year-ago period’s levels. TGT has an expected EPS growth rate of 14.4% for three-five years.
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Buckle (BKE) Up Above 60% YTD: Here's What You Should Know
Shares of The Buckle, Inc. (BKE - Free Report) have increased 64.7% on a year-to-date basis, thanks to a solid momentum in the e-commerce business. Also, robust gains from BKE’s women’s and men’s merchandise categories have been contributing to the performance for a while. Buckle has been putting up a stellar show for the past few months. Its solid sales momentum continued through November. In a latest release, management hiked the quarterly dividend by 6.1% and announced a special cash dividend.
We note that the industry to which Buckle belongs has declined 7.6% so far this year.
Let’s delve deeper.
Dividend Updates
Recently, BKE’s board authorized a $5.65 per share special cash dividend. This dividend is to be paid out to its shareholders of record as of Dec 20, 2021. In addition, management increased the quarterly dividend to 35 cents, mirroring a raise of 2 cents a share and is payable to its shareholders of record on Dec 20, 2021.
A total dividend of $6 per share will be paid out on Dec 29, 2021. The annualized dividend rate is brought to $1.40 per share. Based on its share price of $48.07 on Dec 6, Buckle has a dividend yield of 2.9%. BKE has a current dividend payout ratio of 28%.
Dividend payouts are the biggest enticement for investors while hikes in the same not only boost shareholder returns but also raise the stock market value. The latest dividend hike also reflects Buckle’s cash funds that are used in returning value to its shareholders via dividends and its commitment to maximize shareholder returns.
Marvelous Sales Run
Buckle’s net sales for the four-week fiscal month ended Nov 27, 2021 rose 35.9% to $117.3 million from $86.3 million recorded in the four-week fiscal month ended Nov 28, 2020. This apparel, footwear and accessories retailer registered a sales increase of 23.6%, 17.3% and 43%, respectively, in the preceding three months.
For the fiscal month under review, comparable store net sales for stores open at least for a year climbed 36% year over year. The metric jumped 23.3%, 17.8% and 42.7%, respectively, in the prior months.
For the four-week fiscal month ended Nov 27, 2021, total sales at the men’s unit increased 36.5% from the figure recorded in the four-week period ended Nov 28, 2020 while the metric at the women’s business jumped 34%. While the men’s category contributed 55% to BKE’s overall monthly sales, the women’s unit accounted for 45%.
On combining the men’s and women’s categories, accessory sales for the fiscal month climbed 38% while footwear sales rose 26.5% from the figure registered in the comparable November of fiscal 2020. The accessory and footwear categories accounted for 8.5% and 10.5%, respectively, of the overall fiscal November 2021 sales. For the comparable period in fiscal 2020, these categories constituted 8.5% and 11.5%, respectively.
During third-quarter fiscal 2021, net sales jumped 27.3% year over year to $319.4 million. Also, comparable store net sales increased 27.3% year over year and online sales rose 9% to $50.5 million for the 13-week period ended October 30, 2021. The Kearney, NE-based BKE currently operates 441 retail outlets across 42 states.
Wrapping up, this presently Zacks Rank #1 (Strong Buy) Buckle looks well poised for growth. A VGM Score of A further adds to strength. You can see the complete list of today’s Zacks #1 Rank stocks here.
More Hot Stocks in Retail
Some other top-ranked stocks are Boot Barn Holdings (BOOT - Free Report) , Tractor Supply Company (TSCO - Free Report) and Target (TGT - Free Report) .
Boot Barn Holdings, a lifestyle retailer of western and work-related footwear, apparel and accessories, sports a Zacks Rank of 1 at present. The stock has jumped 179.8% in the year-to-date period.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales and earnings per share (EPS) suggests growth of 54.4% and 183.3%, respectively, from the year-ago period’s corresponding figures. BOOT has a trailing four-quarter earnings surprise of 35.3%, on average.
Tractor Supply Company, a rural lifestyle retailer in the United States, flaunts a Zacks Rank of 1, currently. TSCO has a trailing four-quarter earnings surprise of 22.8%, on average. Shares of TSCO have surged 61.8% year to date.
The Zacks Consensus Estimate for Tractor Supply Company’s current-year sales and EPS suggests growth of 19% and 23.9%, respectively, from the year-ago period’s corresponding readings. TSCO has an expected EPS growth rate of 9.6% for three-five years.
Target, a renowned omnichannel retailer, presently carries a Zacks Rank #2 (Buy). TGT has a trailing four-quarter earnings surprise of 19.7%, on average. The stock has rallied 37.8% in the year-to-date period.
The Zacks Consensus Estimate for Target’s current-year sales and EPS suggests growth of 14% and 39.6%, respectively, from the corresponding year-ago period’s levels. TGT has an expected EPS growth rate of 14.4% for three-five years.