Stonegate Investment Group LLC Buys Shares of 2,640 Hibbett, Inc. (NASDAQ:HIBB)

Stonegate Investment Group LLC bought a new position in shares of Hibbett, Inc. (NASDAQ:HIBB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,640 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Hibbett during the 4th quarter valued at approximately $28,000. AJOVista LLC bought a new stake in shares of Hibbett during the fourth quarter worth $75,000. Virtu Financial LLC acquired a new position in shares of Hibbett during the fourth quarter worth $201,000. 1492 Capital Management LLC bought a new position in shares of Hibbett in the 4th quarter valued at $209,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Hibbett during the 4th quarter valued at $246,000. Institutional investors own 94.08% of the company’s stock.

Hibbett Stock Performance

Shares of NASDAQ HIBB traded up $0.29 during midday trading on Tuesday, reaching $86.24. The stock had a trading volume of 1,047,897 shares, compared to its average volume of 347,993. The company’s 50 day moving average price is $75.42 and its 200 day moving average price is $66.72. Hibbett, Inc. has a twelve month low of $34.86 and a twelve month high of $86.70. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 10.53 and a beta of 1.75.

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

Hibbett Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were paid 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 1.16%. Hibbett’s dividend payout ratio is currently 12.21%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $87.50 target price (up previously from $80.00) on shares of Hibbett in a report on Friday. Williams Trading reiterated a “hold” rating and issued a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Hibbett in a report on Tuesday, April 23rd. Benchmark restated a “hold” rating on shares of Hibbett in a research report on Wednesday, April 24th. Finally, B. Riley lifted their price target on shares of Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Hibbett has a consensus rating of “Hold” and a consensus target price 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.