Raymond James & Associates Purchases New Shares in Hibbett, Inc. (NASDAQ:HIBB)

Raymond James & Associates purchased a new stake in Hibbett, Inc. (NASDAQ:HIBB) in the fourth quarter, Holdings Channel.com reports. The fund purchased 4,334 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC raised its position in Hibbett by 46.4% in the 4th quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock valued at $635,000 after buying an additional 2,796 shares during the last quarter. Wellington Management Group LLP bought a new position in Hibbett in the 3rd quarter valued at $2,861,000. GSA Capital Partners LLP grew its stake in Hibbett by 255.8% in the 3rd quarter. GSA Capital Partners LLP now owns 36,623 shares of the company’s stock valued at $1,740,000 after purchasing an additional 26,330 shares during the period. Scopus Asset Management L.P. bought a new position in Hibbett in the 3rd quarter valued at $1,900,000. Finally, AQR Capital Management LLC grew its stake in Hibbett by 99.1% in the 3rd quarter. AQR Capital Management LLC now owns 101,061 shares of the company’s stock valued at $4,801,000 after purchasing an additional 50,313 shares during the period. 94.08% of the stock is owned by hedge funds and other institutional investors.

Hibbett Stock Performance

HIBB stock opened at $86.15 on Monday. Hibbett, Inc. has a fifty-two week low of $34.86 and a fifty-two week high of $86.70. The stock has a fifty day moving average of $75.17 and a 200-day moving average of $66.44. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.41 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last issued its earnings results on Friday, March 15th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business had revenue of $466.60 million during the quarter, compared to the consensus estimate of $477.42 million. During the same quarter last year, the company earned $2.91 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that Hibbett, Inc. will post 8.19 EPS for the current year.

Hibbett Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Hibbett’s dividend payout ratio is 12.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIBB. Telsey Advisory Group upped their price objective on Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research note on Tuesday, April 23rd. B. Riley upped their price objective on Hibbett from $70.00 to $87.50 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Williams Trading reiterated a “hold” rating and set a $73.00 price target on shares of Hibbett in a research note on Monday, March 18th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Hibbett in a research note on Tuesday, April 23rd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $87.50 price target (up previously from $80.00) on shares of Hibbett in a research note on Friday. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, Hibbett has an average rating of “Hold” and an average price target of $76.79.

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.