Archer Investment Corp Acquires New Stake in Hibbett, Inc. (NASDAQ:HIBB)

Archer Investment Corp acquired a new stake in shares of Hibbett, Inc. (NASDAQ:HIBB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,500 shares of the company’s stock, valued at approximately $540,000.

Other large investors have also made changes to their positions in the company. Quarry LP boosted its stake in shares of Hibbett by 138.7% during the first quarter. Quarry LP now owns 678 shares of the company’s stock valued at $40,000 after acquiring an additional 394 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new position in Hibbett during the fourth quarter worth about $47,000. Acadian Asset Management LLC purchased a new position in Hibbett during the first quarter worth about $50,000. Amundi lifted its position in Hibbett by 15.2% during the fourth quarter. Amundi now owns 1,222 shares of the company’s stock worth $87,000 after buying an additional 161 shares during the period. Finally, FMR LLC lifted its position in Hibbett by 32.0% during the third quarter. FMR LLC now owns 1,258 shares of the company’s stock worth $60,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 94.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HIBB. Telsey Advisory Group restated a “market perform” rating and issued a $74.00 price objective (down from $82.00) on shares of Hibbett in a report on Monday, March 18th. Williams Trading restated a “hold” rating and issued a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. Monness Crespi & Hardt raised their target price on Hibbett from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, B. Riley raised their target price on Hibbett from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Hibbett has a consensus rating of “Hold” and a consensus target price of $67.86.

Hibbett Trading Down 0.1 %

NASDAQ HIBB traded down $0.07 during mid-day trading on Wednesday, reaching $70.70. 83,432 shares of the company’s stock traded hands, compared to its average volume of 236,218. Hibbett, Inc. has a 1-year low of $34.86 and a 1-year high of $83.00. The company has a fifty day simple moving average of $74.09 and a 200-day simple moving average of $64.67. The company has a market cap of $834.26 million, a price-to-earnings ratio of 8.66, a P/E/G ratio of 1.15 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The firm had revenue of $466.60 million during the quarter, compared to analyst estimates of $477.42 million. During the same quarter last year, the firm earned $2.91 EPS. Hibbett’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts forecast that Hibbett, Inc. will post 8.21 earnings per share for the current fiscal year.

Hibbett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st were given a $0.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. Hibbett’s payout ratio is 12.21%.

Hibbett 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.