Hibbett, Inc. to Issue Quarterly Dividend of $0.25 (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBBGet Rating) announced a quarterly dividend on Tuesday, November 22nd, Zacks reports. Investors of record on Thursday, December 8th will be given a dividend of 0.25 per share on Tuesday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, December 7th.

Hibbett Price Performance

Shares of Hibbett stock traded up $2.45 during trading on Thursday, hitting $69.70. 281,828 shares of the company were exchanged, compared to its average volume of 227,070. The firm has a market capitalization of $892.86 million, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.76. The firm’s fifty day moving average price is $58.44 and its 200 day moving average price is $53.06. Hibbett has a 1-year low of $39.58 and a 1-year high of $93.93.

Hibbett (NASDAQ:HIBBGet Rating) last released its quarterly earnings results on Thursday, August 25th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.40). Hibbett had a net margin of 6.76% and a return on equity of 34.89%. The company had revenue of $392.80 million during the quarter, compared to analyst estimates of $394.44 million. During the same quarter last year, the company earned $2.86 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Hibbett will post 9.79 earnings per share for the current year.

Hedge Funds Weigh In On Hibbett

Several institutional investors have recently added to or reduced their stakes in HIBB. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Hibbett in the 3rd quarter valued at about $269,000. BNP Paribas Arbitrage SNC raised its holdings in Hibbett by 64.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 6,133 shares of the company’s stock worth $305,000 after buying an additional 2,412 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Hibbett by 11.6% in the third quarter. Thrivent Financial for Lutherans now owns 13,371 shares of the company’s stock valued at $666,000 after buying an additional 1,392 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Hibbett by 19.2% during the third quarter. Engineers Gate Manager LP now owns 6,869 shares of the company’s stock valued at $342,000 after buying an additional 1,107 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Hibbett by 8.0% during the third quarter. Bank of New York Mellon Corp now owns 171,159 shares of the company’s stock worth $8,526,000 after acquiring an additional 12,677 shares in the last quarter. 99.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HIBB shares. Seaport Res Ptn upgraded Hibbett from a “neutral” rating to a “buy” rating in a research note on Friday, August 26th. Robert W. Baird lifted their price target on shares of Hibbett from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Bank of America upgraded shares of Hibbett from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, October 25th. StockNews.com assumed coverage on Hibbett in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Telsey Advisory Group lifted their price target on Hibbett from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, August 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Hibbett Company Profile

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Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in small and mid-sized communities in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.

Further Reading

Dividend History for Hibbett (NASDAQ:HIBB)

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