State Board of Administration of Florida Retirement System Sells 2,090 Shares of Hibbett, Inc. (NASDAQ:HIBB)

State Board of Administration of Florida Retirement System reduced its stake in Hibbett, Inc. (NASDAQ:HIBBGet Rating) by 28.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,314 shares of the company’s stock after selling 2,090 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Hibbett were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of HIBB. Nisa Investment Advisors LLC bought a new stake in shares of Hibbett in the 2nd quarter valued at approximately $26,000. Acadian Asset Management LLC bought a new stake in shares of Hibbett in the 1st quarter valued at approximately $50,000. Point72 Hong Kong Ltd grew its stake in shares of Hibbett by 47.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,689 shares of the company’s stock valued at $75,000 after purchasing an additional 543 shares during the period. Captrust Financial Advisors grew its stake in shares of Hibbett by 67.9% in the 1st quarter. Captrust Financial Advisors now owns 1,691 shares of the company’s stock valued at $75,000 after purchasing an additional 684 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Hibbett by 14.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,021 shares of the company’s stock valued at $134,000 after purchasing an additional 390 shares during the period. 99.90% of the stock is currently owned by institutional investors.

Hibbett Stock Performance

NASDAQ:HIBB opened at $65.21 on Tuesday. The stock’s fifty day moving average price is $58.04 and its two-hundred day moving average price is $52.78. Hibbett, Inc. has a 52-week low of $39.58 and a 52-week high of $101.65. The company has a market cap of $835.14 million, a price-to-earnings ratio of 8.49, a P/E/G ratio of 1.87 and a beta of 1.76.

Hibbett (NASDAQ:HIBBGet Rating) last issued its earnings results on Thursday, August 25th. The company reported $1.86 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.40). The business had revenue of $392.80 million for the quarter, compared to the consensus estimate of $394.44 million. Hibbett had a net margin of 6.76% and a return on equity of 34.89%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.86 EPS. On average, equities analysts predict that Hibbett, Inc. will post 9.77 EPS for the current fiscal year.

Hibbett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Thursday, September 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, September 7th. Hibbett’s payout ratio is 13.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Hibbett from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Seaport Res Ptn raised Hibbett from a “neutral” rating to a “buy” rating in a report on Friday, August 26th. Telsey Advisory Group boosted their target price on Hibbett from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, August 22nd. Bank of America raised Hibbett from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, October 25th. Finally, StockNews.com began coverage on Hibbett in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Hibbett presently has an average rating of “Moderate Buy” and an average target price of $76.00.

About Hibbett

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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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Institutional Ownership by Quarter for Hibbett (NASDAQ:HIBB)

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