Victory Capital Management Inc. Increases Stock Holdings in Hibbett, Inc. (NASDAQ:HIBB)

Victory Capital Management Inc. boosted its stake in shares of Hibbett, Inc. (NASDAQ:HIBBFree Report) by 34.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,705 shares of the company’s stock after purchasing an additional 10,322 shares during the quarter. Victory Capital Management Inc. owned approximately 0.33% of Hibbett worth $1,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Hibbett by 4.3% during the 3rd quarter. BlackRock Inc. now owns 2,065,251 shares of the company’s stock valued at $102,869,000 after purchasing an additional 84,638 shares during the period. LSV Asset Management grew its stake in shares of Hibbett by 0.7% in the second quarter. LSV Asset Management now owns 682,418 shares of the company’s stock worth $24,765,000 after purchasing an additional 4,900 shares in the last quarter. State Street Corp grew its stake in shares of Hibbett by 5.6% in the second quarter. State Street Corp now owns 643,623 shares of the company’s stock worth $23,357,000 after purchasing an additional 34,019 shares in the last quarter. Bronte Capital Management Pty Ltd. grew its stake in shares of Hibbett by 7.5% in the third quarter. Bronte Capital Management Pty Ltd. now owns 607,841 shares of the company’s stock worth $28,879,000 after purchasing an additional 42,381 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Hibbett by 1.6% in the fourth quarter. Macquarie Group Ltd. now owns 525,106 shares of the company’s stock worth $35,823,000 after purchasing an additional 8,018 shares in the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.

Hibbett Stock Up 5.1 %

Shares of NASDAQ HIBB opened at $72.42 on Friday. Hibbett, Inc. has a 12 month low of $34.86 and a 12 month high of $73.74. The company has a market cap of $852.38 million, a price-to-earnings ratio of 8.47, a P/E/G ratio of 3.46 and a beta of 1.75. The business has a fifty day simple moving average of $68.00 and a 200-day simple moving average of $54.58.

Hibbett (NASDAQ:HIBBGet Free Report) last announced its earnings results on Tuesday, November 21st. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.18 by $0.87. Hibbett had a return on equity of 28.35% and a net margin of 6.43%. The business had revenue of $431.90 million during the quarter, compared to the consensus estimate of $416.17 million. During the same period in the prior year, the business posted $1.94 earnings per share. Hibbett’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Hibbett, Inc. will post 8.16 EPS for the current fiscal year.

Hibbett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Thursday, December 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Wednesday, December 6th. Hibbett’s dividend payout ratio is currently 11.70%.

Insider Buying and Selling

In related news, SVP Ronald P. Blahnik sold 2,200 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.85, for a total value of $129,470.00. Following the completion of the sale, the senior vice president now directly owns 41,979 shares of the company’s stock, valued at approximately $2,470,464.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP William G. Quinn sold 2,632 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $65.27, for a total value of $171,790.64. Following the completion of the sale, the senior vice president now directly owns 14,452 shares of the company’s stock, valued at approximately $943,282.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ronald P. Blahnik sold 2,200 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.85, for a total value of $129,470.00. Following the completion of the sale, the senior vice president now directly owns 41,979 shares of the company’s stock, valued at $2,470,464.15. The disclosure for this sale can be found here. Company insiders own 2.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HIBB. B. Riley increased their price target on Hibbett from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 22nd. TheStreet raised Hibbett from a “c+” rating to a “b-” rating in a research note on Monday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $73.00 target price (up previously from $60.00) on shares of Hibbett in a research note on Tuesday, November 21st. Finally, Monness Crespi & Hardt raised their target price on Hibbett from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.29.

View Our Latest Stock Analysis on HIBB

Hibbett Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Hibbett (NASDAQ:HIBB)

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