Mach 1 Financial Group LLC Acquires Shares of 5,993 Hibbett, Inc. (NASDAQ:HIBB)

Mach 1 Financial Group LLC bought a new position in shares of Hibbett, Inc. (NASDAQ:HIBB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,993 shares of the company’s stock, valued at approximately $432,000. Mach 1 Financial Group LLC owned 0.05% of Hibbett as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Hibbett in the fourth quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hibbett by 80.9% during the third 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 period. Kendall Capital Management bought a new stake in shares of Hibbett in the third quarter valued at about $200,000. Maryland State Retirement & Pension System purchased a new stake in Hibbett in the third quarter worth about $223,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Hibbett during the 4th quarter worth about $246,000. Institutional investors own 94.08% of the company’s stock.

Hibbett Stock Down 0.2 %

Shares of HIBB traded down $0.18 during mid-day trading on Wednesday, hitting $86.06. 395,428 shares of the company traded hands, compared to its average volume of 348,030. The business has a 50 day moving average of $75.42 and a 200 day moving average of $66.72. The company has a market capitalization of $1.02 billion, a PE ratio of 10.53 and a beta of 1.75. Hibbett, Inc. has a 1-year low of $34.86 and a 1-year high of $86.70.

Hibbett (NASDAQ:HIBB) last posted 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 business had revenue of $466.60 million during 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%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $2.91 earnings per share. As a group, research analysts expect that Hibbett, Inc. will post 8.19 EPS for the current fiscal year.

Hibbett Dividend Announcement

The company also recently disclosed 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 was Wednesday, March 20th. Hibbett’s payout ratio is 12.21%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HIBB shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $87.50 price target (up previously from $80.00) on shares of Hibbett in a research report on Friday, April 26th. B. Riley lifted their price target on Hibbett from $70.00 to $87.50 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a research report on Wednesday, April 24th. Telsey Advisory Group lifted their target price on Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research note on Tuesday, April 23rd. Finally, Williams Trading reissued a “hold” rating and set a $73.00 price target on shares of Hibbett in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.79.

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.