Shell Asset Management Co. lowered its stake in shares of Hibbett, Inc. (NASDAQ:HIBB – Get Rating) by 12.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,097 shares of the company’s stock after selling 1,643 shares during the quarter. Shell Asset Management Co.’s holdings in Hibbett were worth $492,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Koshinski Asset Management Inc. increased its holdings in shares of Hibbett by 766.7% during the first quarter. Koshinski Asset Management Inc. now owns 676 shares of the company’s stock valued at $30,000 after acquiring an additional 598 shares in the last quarter. CWM LLC purchased a new stake in Hibbett in the fourth quarter valued at approximately $35,000. Shore Point Advisors LLC purchased a new stake in Hibbett in the fourth quarter valued at approximately $91,000. Oakworth Capital Inc. boosted its position in Hibbett by 264.6% in the first quarter. Oakworth Capital Inc. now owns 2,756 shares of the company’s stock valued at $123,000 after buying an additional 2,000 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Hibbett by 76.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,631 shares of the company’s stock valued at $189,000 after buying an additional 1,142 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.
Wall Street Analyst Weigh In
HIBB has been the topic of a number of recent research reports. Telsey Advisory Group dropped their target price on Hibbett from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 24th. Seaport Res Ptn reiterated a “neutral” rating on shares of Hibbett in a research report on Wednesday, July 13th. TheStreet lowered Hibbett from a “b-” rating to a “c+” rating in a research report on Tuesday, May 10th. Finally, Robert W. Baird lowered their price objective on Hibbett from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Hibbett presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.60.
Hibbett Trading Up 2.7 %
Hibbett (NASDAQ:HIBB – Get Rating) last announced its earnings results on Friday, May 27th. The company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.40). Hibbett had a net margin of 8.01% and a return on equity of 39.56%. The business had revenue of $424.10 million for the quarter, compared to analysts’ expectations of $424.20 million. During the same quarter last year, the business earned $5.00 EPS. The company’s quarterly revenue was down 16.3% on a year-over-year basis. On average, equities research analysts forecast that Hibbett, Inc. will post 9.63 EPS for the current year.
Hibbett Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 21st. Stockholders of record on Thursday, June 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Hibbett’s dividend payout ratio (DPR) is 11.52%.
Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in small and mid-sized communities in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.
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