Dennis H. Nelson, the President and CEO of Buckle Inc (NYSE:BKE), has recently sold a significant portion of his holdings in the company. According to the latest SEC filing, Nelson offloaded 24,666 shares of Buckle Inc at a price of $42.4378 per share, totaling over $1 million in value.
The transaction, which took place on August 27, 2024, was executed under a pre-arranged 10b5-1 trading plan that Nelson had adopted earlier in the year on April 24. This trading plan allows company insiders to sell shares at predetermined times to avoid any accusations of insider trading.
Following the sale, Nelson still holds a substantial number of shares indirectly. The SEC filing indicates that 1,924,811 shares are owned indirectly by a trust, 67,500 by his wife, and 14,049.46 held in a 401(k) plan. Additionally, there are 645.3 shares held by a family trust, although Nelson disclaims beneficial ownership of these securities, as noted in the footnotes of the filing.
Investors often keep a close eye on insider transactions as they can provide insights into executives' perspectives on the company's future performance. However, it should be noted that such sales do not necessarily indicate a lack of confidence in the company but can reflect personal financial management strategies.
Buckle Inc, headquartered in Kearney, Nebraska, operates as a retailer of family clothing and is known for its wide range of brand apparel, including denims, casual bottoms, tops, sportswear, outerwear, accessories, and footwear.
For shareholders and potential investors, keeping track of insider transactions such as these is part of staying informed about the movements within the company's leadership and their stakes in the business.
In other recent news, The Buckle, Inc. reported strong second quarter results, with both earnings and revenue surpassing analyst estimates. The company recorded adjusted earnings per share of $0.78, exceeding the analyst consensus of $0.76, and revenue reached $282.4 million, surpassing expectations of $272.41 million. Despite these achievements, the specialty retailer noted a 3.4% decrease in sales compared to the same quarter last year, and a drop in both comparable store sales and online sales.
The Buckle maintained its strong profitability despite these challenges, with a net income of $39.3 million for the quarter. The company's gross margin remained robust at 46.9% of net sales. The number of stores operated by the company remained steady at 440 across 42 states. These are among the recent developments for the company, as it continues to navigate the retail landscape.
InvestingPro Insights
In light of the recent insider transaction by Dennis H. Nelson, President and CEO of Buckle Inc (NYSE:BKE), it's worthwhile for investors to consider the company's financial health and performance metrics. Buckle Inc has demonstrated an impressive gross profit margin of 58.83% over the last twelve months as of Q2 2025, which underscores the company's efficiency in managing its cost of goods sold relative to its sales.
Moreover, the company has been a consistent performer when it comes to rewarding its shareholders. Buckle Inc pays a significant dividend with a yield of 9.35% as of the end of 2024, and it has maintained these dividend payments for 22 consecutive years. This track record may be particularly attractive to income-focused investors. Additionally, the company's market capitalization stands at $2.09 billion, and despite a slight decline in revenue growth by 6.01% over the last twelve months as of Q2 2025, Buckle Inc's commitment to shareholder returns remains evident.
For investors interested in deeper analysis, there are further InvestingPro Tips available, including insights on the company's debt levels, Price/Book multiple, and profitability forecasts. In fact, there are 6 additional tips listed on InvestingPro for Buckle Inc, which can be found at https://www.investing.com/pro/BKE. These tips can provide a more nuanced view of the company's financial standing and market position, assisting both current shareholders and potential investors in making informed decisions.
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