Raymond James Financial Services Advisors Inc. Makes New Investment in Hibbett, Inc. (NASDAQ:HIBB)

Raymond James Financial Services Advisors Inc. acquired a new stake in Hibbett, Inc. (NASDAQ:HIBB) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,416 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hibbett by 80.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,699 shares of the company’s stock valued at $176,000 after buying an additional 1,654 shares during the last quarter. Kendall Capital Management bought a new position in shares of Hibbett during the third quarter valued at about $200,000. Maryland State Retirement & Pension System purchased a new stake in shares of Hibbett during the third quarter worth about $223,000. Everence Capital Management Inc. bought a new stake in shares of Hibbett in the third quarter worth about $244,000. Finally, Algert Global LLC purchased a new position in Hibbett during the 3rd quarter valued at about $253,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Hibbett Stock Up 18.8 %

HIBB stock opened at $86.15 on Wednesday. The business has a 50 day moving average of $74.40 and a 200 day moving average of $65.63. 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 PE ratio of 10.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last announced its quarterly earnings results on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.01. The company had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. Hibbett’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.91 EPS. On average, research analysts expect that Hibbett, Inc. will post 8.21 earnings per share for the current fiscal year.

Hibbett Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Telsey Advisory Group lifted their price objective on Hibbett from $74.00 to $87.50 and gave the stock a “market perform” rating in a research report on Tuesday. Williams Trading reaffirmed a “hold” rating and set a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. Monness Crespi & Hardt restated a “neutral” rating on shares of Hibbett in a report on Tuesday. Finally, B. Riley increased their target price on Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.79.

Hibbett Company Profile

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.