Bank of New York Mellon Corp increased its position in shares of Hibbett, Inc. (NASDAQ:HIBB – Free Report) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,222 shares of the company’s stock after purchasing an additional 6,322 shares during the period. Bank of New York Mellon Corp owned 1.38% of Hibbett worth $6,395,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its position in shares of Hibbett by 138.7% during the 1st quarter. Quarry LP now owns 678 shares of the company’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in Hibbett during the fourth quarter valued at $47,000. Acadian Asset Management LLC purchased a new position in Hibbett during the first quarter valued at $50,000. KBC Group NV grew its stake in Hibbett by 24.8% during the first quarter. KBC Group NV now owns 1,182 shares of the company’s stock valued at $70,000 after acquiring an additional 235 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its stake in Hibbett by 47.4% during the first quarter. Point72 Hong Kong Ltd now owns 1,689 shares of the company’s stock valued at $75,000 after acquiring an additional 543 shares in the last quarter. 94.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
HIBB has been the subject of several research analyst reports. Bank of America raised their target price on shares of Hibbett from $35.00 to $40.00 and gave the company an “underperform” rating in a research note on Sunday, August 27th. B. Riley lifted their price objective on shares of Hibbett from $37.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. Benchmark reissued a “buy” rating and issued a $80.00 price objective on shares of Hibbett in a research note on Monday, August 28th. Williams Trading raised shares of Hibbett from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $60.00 price objective on shares of Hibbett in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.33.
Hibbett Trading Up 0.3 %
HIBB stock opened at $53.62 on Tuesday. Hibbett, Inc. has a 12 month low of $34.86 and a 12 month high of $75.38. The company has a 50-day moving average price of $47.21 and a 200 day moving average price of $43.82. The stock has a market cap of $664.57 million, a PE ratio of 6.35, a P/E/G ratio of 0.94 and a beta of 1.60.
Hibbett (NASDAQ:HIBB – Get Free Report) last released its quarterly earnings results on Friday, August 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Hibbett had a net margin of 6.43% and a return on equity of 29.34%. The firm had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $375.96 million. During the same period in the previous year, the company earned $1.86 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Sell-side analysts forecast that Hibbett, Inc. will post 7.31 EPS for the current year.
Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories. The company operates Hibbett stores, City Gear stores, and Sports Additions athletic shoe stores.
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