Archer Investment Corp Takes $540,000 Position in Hibbett, Inc. (NASDAQ:HIBB)

Archer Investment Corp bought a new stake in shares of Hibbett, Inc. (NASDAQ:HIBB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,500 shares of the company’s stock, valued at approximately $540,000. Archer Investment Corp owned 0.06% of Hibbett at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HIBB. 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 purchasing an additional 394 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in Hibbett in the fourth quarter worth about $47,000. Acadian Asset Management LLC purchased a new stake in Hibbett in the first quarter worth about $50,000. FMR LLC lifted its stake in Hibbett by 32.0% in the third quarter. FMR LLC now owns 1,258 shares of the company’s stock worth $60,000 after acquiring an additional 305 shares during the period. Finally, Point72 Hong Kong Ltd raised its holdings in Hibbett by 47.4% in the first quarter. Point72 Hong Kong Ltd now owns 1,689 shares of the company’s stock worth $75,000 after purchasing an additional 543 shares in the last quarter. 94.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Hibbett Stock Performance

Shares of NASDAQ HIBB traded down $0.07 during trading on Wednesday, hitting $70.70. 83,432 shares of the company were exchanged, compared to its average volume of 236,218. Hibbett, Inc. has a 12-month low of $34.86 and a 12-month high of $83.00. The company has a fifty day moving average price of $74.09 and a 200-day moving average price of $64.67. The firm has a market capitalization of $834.26 million, a PE ratio of 8.66, a P/E/G ratio of 1.15 and a beta of 1.75.

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

Hibbett Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.00 annualized dividend and a yield of 1.41%. Hibbett’s dividend payout ratio (DPR) is currently 12.21%.

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.