Allspring Global Investments Holdings LLC Buys 4,378 Shares of Hibbett, Inc. (NASDAQ:HIBB)

Allspring Global Investments Holdings LLC lifted its stake in shares of Hibbett, Inc. (NASDAQ:HIBB) by 435.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,384 shares of the company’s stock after purchasing an additional 4,378 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hibbett were worth $388,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Hibbett in the 3rd quarter valued at $286,000. Maryland State Retirement & Pension System purchased a new stake in shares of Hibbett in the third quarter worth $223,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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. TD Asset Management Inc purchased a new position in shares of Hibbett during the third quarter worth about $356,000. Finally, Kendall Capital Management bought a new position in shares of Hibbett in the 3rd quarter worth $200,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Williams Trading reaffirmed a “hold” rating and set a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Hibbett in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $87.50 price objective (up from $80.00) on shares of Hibbett in a report on Friday. Benchmark reaffirmed a “hold” rating on shares of Hibbett in a report on Wednesday. Finally, Telsey Advisory Group lifted their target price on shares of Hibbett from $74.00 to $87.50 and gave the stock a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.79.

Hibbett Stock Up 0.1 %

Shares of NASDAQ:HIBB opened at $86.15 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of 10.52, a PEG ratio of 1.41 and a beta of 1.75. The company’s fifty day moving average is $75.17 and its 200 day moving average is $66.19. Hibbett, Inc. has a 52 week low of $34.86 and a 52 week high of $86.70.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, March 15th. The company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.54 by $0.01. The firm had revenue of $466.60 million during the quarter, compared to the consensus estimate of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 earnings per share. Sell-side analysts anticipate that Hibbett, Inc. will post 8.19 EPS for the current year.

Hibbett Announces Dividend

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 dividend of $0.25 per share. 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 (DPR) is 12.21%.

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.