Moran Wealth Management LLC Acquires 2,375 Shares of Hibbett, Inc. (NASDAQ:HIBB)

Moran Wealth Management LLC raised its holdings in Hibbett, Inc. (NASDAQ:HIBB) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,623 shares of the company’s stock after purchasing an additional 2,375 shares during the period. Moran Wealth Management LLC owned approximately 0.43% of Hibbett worth $1,982,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HIBB. Amundi lifted its holdings in shares of Hibbett by 15.2% during the 4th quarter. Amundi now owns 1,222 shares of the company’s stock worth $87,000 after acquiring an additional 161 shares during the period. KBC Group NV lifted its holdings in shares of Hibbett by 24.8% during the 1st quarter. KBC Group NV now owns 1,182 shares of the company’s stock worth $70,000 after acquiring an additional 235 shares during the period. Brandywine Global Investment Management LLC lifted its holdings in shares of Hibbett by 0.6% during the 1st quarter. Brandywine Global Investment Management LLC now owns 38,764 shares of the company’s stock worth $2,286,000 after acquiring an additional 239 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Hibbett by 4.5% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 5,973 shares of the company’s stock worth $352,000 after acquiring an additional 257 shares during the period. Finally, Money Concepts Capital Corp lifted its holdings in shares of Hibbett by 3.3% during the 4th quarter. Money Concepts Capital Corp now owns 8,460 shares of the company’s stock worth $577,000 after acquiring an additional 270 shares during the period. Institutional investors own 94.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of Hibbett in a report on Monday, August 28th. Telsey Advisory Group reiterated an “outperform” rating and set a $60.00 price objective on shares of Hibbett in a research report on Monday, August 28th. Williams Trading upgraded shares of Hibbett from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Robert W. Baird upped their price objective on shares of Hibbett from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, August 25th. Finally, B. Riley upped their price objective on shares of Hibbett from $37.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.33.

Hibbett Stock Performance

Shares of NASDAQ HIBB opened at $53.62 on Tuesday. Hibbett, Inc. has a 52-week low of $34.86 and a 52-week high of $75.38. The firm has a 50 day moving average price of $47.21 and a two-hundred day moving average price of $43.82. The stock has a market cap of $664.57 million, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.17. Hibbett had a net margin of 6.43% and a return on equity of 29.34%. The firm had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $375.96 million. During the same period in the prior year, the company posted $1.86 EPS. The company’s revenue was down 4.6% on a year-over-year basis. Analysts predict that Hibbett, Inc. will post 7.31 earnings per share for the current fiscal year.

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.