Hibbett (NASDAQ:HIBB) Hits New 1-Year High at $86.88

Shares of Hibbett, Inc. (NASDAQ:HIBB) reached a new 52-week high on Tuesday . The company traded as high as $86.88 and last traded at $86.84, with a volume of 141277 shares changing hands. The stock had previously closed at $86.65.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Telsey Advisory Group raised their target price on shares of Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a report on Tuesday, April 23rd. B. Riley lifted their price objective on shares of Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a research note on Wednesday, April 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $87.50 price objective (up from $80.00) on shares of Hibbett in a research note on Friday, April 26th. Finally, Williams Trading reaffirmed a “hold” rating and set a $73.00 price objective on shares of Hibbett in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Hibbett has a consensus rating of “Hold” and an average price target of $76.79.

Hibbett Price Performance

The firm has a market capitalization of $1.02 billion, a P/E ratio of 10.58 and a beta of 1.72. The stock’s fifty day simple moving average is $76.47 and its 200 day simple moving average is $68.07.

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

Hibbett Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Hibbett’s dividend payout ratio (DPR) is currently 12.21%.

Hedge Funds Weigh In On Hibbett

Several hedge funds have recently modified their holdings of HIBB. Wellington Management Group LLP acquired a new position in shares of Hibbett during the third quarter valued at about $2,861,000. AQR Capital Management LLC increased its holdings in shares of Hibbett by 99.1% during the third quarter. AQR Capital Management LLC now owns 101,061 shares of the company’s stock valued at $4,801,000 after acquiring an additional 50,313 shares in the last quarter. Boston Partners purchased a new stake in Hibbett in the third quarter valued at approximately $2,242,000. Bronte Capital Management Pty Ltd. boosted its position in Hibbett by 7.5% in the third quarter. Bronte Capital Management Pty Ltd. now owns 607,841 shares of the company’s stock valued at $28,879,000 after buying an additional 42,381 shares during the last quarter. Finally, Scopus Asset Management L.P. purchased a new stake in Hibbett in the third quarter valued at approximately $1,900,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

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.