New York State Teachers Retirement System Lowers Stock Holdings in Hibbett, Inc. (NASDAQ:HIBB)

New York State Teachers Retirement System decreased its position in shares of Hibbett, Inc. (NASDAQ:HIBB) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 26,885 shares of the company’s stock after selling 1,539 shares during the period. New York State Teachers Retirement System’s holdings in Hibbett were worth $1,936,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Hibbett by 98.6% in the first quarter. JPMorgan Chase & Co. now owns 226,705 shares of the company’s stock worth $10,053,000 after buying an additional 112,526 shares during the period. HighTower Advisors LLC increased its holdings in shares of Hibbett by 3.9% in the first quarter. HighTower Advisors LLC now owns 10,427 shares of the company’s stock worth $462,000 after buying an additional 395 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Hibbett in the first quarter worth about $50,000. MetLife Investment Management LLC increased its holdings in shares of Hibbett by 15.6% in the first quarter. MetLife Investment Management LLC now owns 6,500 shares of the company’s stock worth $288,000 after buying an additional 876 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Hibbett by 153.0% in the first quarter. Sei Investments Co. now owns 13,514 shares of the company’s stock worth $599,000 after buying an additional 8,172 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Hibbett Stock Performance

Hibbett stock opened at $70.77 on Wednesday. The stock’s 50 day simple moving average is $74.09 and its two-hundred day simple moving average is $64.67. The stock has a market cap of $835.09 million, a price-to-earnings ratio of 8.64, a PEG ratio of 1.16 and a beta of 1.75. Hibbett, Inc. has a fifty-two week low of $34.86 and a fifty-two week high of $83.00.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.01. The business had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.91 EPS. On average, analysts predict that Hibbett, Inc. will post 8.21 earnings per share for the current year.

Hibbett Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $1.00 annualized dividend and a yield of 1.41%. Hibbett’s payout ratio is 12.21%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Williams Trading reiterated a “hold” rating and issued a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. Monness Crespi & Hardt boosted their price target on Hibbett from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 18th. Telsey Advisory Group restated a “market perform” rating and set a $74.00 price target (down previously from $82.00) on shares of Hibbett in a report on Monday, March 18th. Finally, B. Riley boosted their price target on Hibbett from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.86.

About Hibbett

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.