Tower Research Capital LLC TRC Lowers Stake in Hibbett, Inc. (NASDAQ:HIBB)

Tower Research Capital LLC TRC lowered its stake in shares of Hibbett, Inc. (NASDAQ:HIBB – Get Rating) by 85.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,279 shares of the company’s stock after selling 19,466 shares during the period. Tower Research Capital LLC TRC’s holdings in Hibbett were worth $164,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Hibbett by 98.6% in the 1st quarter. JPMorgan Chase & Co. now owns 226,705 shares of the company’s stock valued at $10,053,000 after buying an additional 112,526 shares during the period. HighTower Advisors LLC boosted its position in Hibbett by 3.9% in the 1st quarter. HighTower Advisors LLC now owns 10,427 shares of the company’s stock valued at $462,000 after buying an additional 395 shares during the period. Acadian Asset Management LLC purchased a new position in Hibbett in the 1st quarter valued at approximately $50,000. MetLife Investment Management LLC boosted its position in Hibbett by 15.6% in the 1st quarter. MetLife Investment Management LLC now owns 6,500 shares of the company’s stock valued at $288,000 after buying an additional 876 shares during the period. Finally, Sei Investments Co. boosted its position in Hibbett by 153.0% in the 1st quarter. Sei Investments Co. now owns 13,514 shares of the company’s stock valued at $599,000 after buying an additional 8,172 shares during the period. Hedge funds and other institutional investors own 97.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HIBB. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of Hibbett in a research report on Monday. Bank of America lifted their price objective on shares of Hibbett from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Hibbett in a research report on Monday. TheStreet raised shares of Hibbett from a “c+” rating to a “b-” rating in a research report on Tuesday, December 13th. Finally, StockNews.com cut shares of Hibbett from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Hibbett Price Performance

Shares of NASDAQ:HIBB opened at $68.59 on Thursday. The company’s fifty day moving average price is $69.43 and its 200 day moving average price is $63.74. Hibbett, Inc. has a 12 month low of $39.58 and a 12 month high of $75.38. The firm has a market capitalization of $873.15 million, a P/E ratio of 7.14, a P/E/G ratio of 1.76 and a beta of 1.63.

Hibbett (NASDAQ:HIBB – Get Rating) last announced its quarterly earnings results on Friday, March 3rd. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.05). Hibbett had a return on equity of 38.15% and a net margin of 7.50%. The company had revenue of $458.30 million for the quarter, compared to analyst estimates of $476.57 million. During the same quarter in the prior year, the business earned $1.25 earnings per share. Hibbett’s revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Hibbett, Inc. will post 9.75 EPS for the current year.

Hibbett Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Thursday, March 16th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. Hibbett’s dividend payout ratio is presently 10.42%.

Insider Buying and Selling at Hibbett

In other Hibbett news, Director Terrance G. Finley sold 5,605 shares of Hibbett stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total value of $401,598.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.90% of the stock is currently owned by company insiders.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.