Hibbett, Inc. (NASDAQ:HIBB) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. cut its stake in Hibbett, Inc. (NASDAQ:HIBBGet Rating) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,587 shares of the company’s stock after selling 736 shares during the period. Baird Financial Group Inc.’s holdings in Hibbett were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. LSV Asset Management raised its holdings in Hibbett by 0.6% in the first quarter. LSV Asset Management now owns 732,618 shares of the company’s stock valued at $32,484,000 after acquiring an additional 4,200 shares in the last quarter. State Street Corp increased its stake in Hibbett by 1.5% during the first quarter. State Street Corp now owns 567,522 shares of the company’s stock valued at $25,164,000 after purchasing an additional 8,360 shares during the last quarter. Bronte Capital Management Pty Ltd. increased its stake in Hibbett by 143.7% during the second quarter. Bronte Capital Management Pty Ltd. now owns 379,019 shares of the company’s stock valued at $16,567,000 after purchasing an additional 223,494 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Hibbett by 98.6% during the first quarter. JPMorgan Chase & Co. now owns 226,705 shares of the company’s stock valued at $10,053,000 after purchasing an additional 112,526 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in Hibbett by 4.1% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 222,550 shares of the company’s stock valued at $9,868,000 after purchasing an additional 8,667 shares during the last quarter. 99.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hibbett Stock Performance

Hibbett stock opened at $69.70 on Thursday. The company has a 50-day simple moving average of $58.44 and a 200-day simple moving average of $53.06. The firm has a market capitalization of $892.65 million, a P/E ratio of 9.08, a P/E/G ratio of 1.82 and a beta of 1.76. Hibbett, Inc. has a one year low of $39.58 and a one year high of $93.93.

Hibbett (NASDAQ:HIBBGet Rating) last announced its earnings results on Thursday, August 25th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.40). The company had revenue of $392.80 million during 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 quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.86 EPS. As a group, sell-side analysts forecast that Hibbett, Inc. will post 9.79 earnings per share for the current year.

Hibbett Company Profile

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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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