LSV Asset Management Reduces Holdings in Hibbett, Inc. (NASDAQ:HIBB)

LSV Asset Management trimmed its holdings in Hibbett, Inc. (NASDAQ:HIBB) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,318 shares of the company’s stock after selling 17,900 shares during the quarter. LSV Asset Management owned approximately 5.59% of Hibbett worth $47,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC purchased a new position in Hibbett in the fourth quarter worth $28,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Hibbett during the fourth quarter worth $246,000. Arizona State Retirement System purchased a new stake in Hibbett in the 4th quarter valued at about $250,000. Bailard Inc. acquired a new position in Hibbett during the fourth quarter worth approximately $254,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Hibbett during the fourth quarter valued at about $266,000. 94.08% of the stock is owned by hedge funds and other institutional investors.

Hibbett Price Performance

Shares of HIBB traded up $0.10 during mid-day trading on Friday, hitting $86.59. The company’s stock had a trading volume of 541,860 shares, compared to its average volume of 761,724. The firm has a 50-day moving average price of $76.30 and a 200 day moving average price of $67.53. Hibbett, Inc. has a fifty-two week low of $34.86 and a fifty-two week high of $86.85. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.57 and a beta of 1.72.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The firm had revenue of $466.60 million for the quarter, compared to analyst estimates of $477.42 million. During the same quarter in the previous year, the business posted $2.91 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Hibbett, Inc. will post 8.19 EPS for the current fiscal year.

Hibbett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 annualized dividend and a yield of 1.15%. Hibbett’s payout ratio is presently 12.21%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. B. Riley upped their target price on shares of Hibbett from $70.00 to $87.50 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird restated a “neutral” rating and issued a $87.50 price target (up previously from $80.00) on shares of Hibbett in a research note on Friday, April 26th. Telsey Advisory Group lifted their price objective on shares of Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a research note on Wednesday, April 24th. Finally, StockNews.com assumed coverage on shares of Hibbett in a report on Friday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.79.

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.