Empowered Funds LLC Boosts Holdings in Hibbett, Inc. (NASDAQ:HIBB)

Empowered Funds LLC increased its holdings in Hibbett, Inc. (NASDAQ:HIBB) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,864 shares of the company’s stock after buying an additional 2,975 shares during the quarter. Empowered Funds LLC owned 0.34% of Hibbett worth $3,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Hibbett in the first quarter worth approximately $997,000. Chase Investment Counsel Corp purchased a new position in shares of Hibbett in the first quarter worth approximately $307,000. Janney Montgomery Scott LLC purchased a new position in shares of Hibbett in the first quarter worth approximately $559,000. BNP Paribas Financial Markets boosted its holdings in shares of Hibbett by 46.2% in the first quarter. BNP Paribas Financial Markets now owns 71,115 shares of the company’s stock worth $5,462,000 after buying an additional 22,481 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Hibbett by 9.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock worth $451,000 after acquiring an additional 486 shares during the period. Hedge funds and other institutional investors own 94.08% of the company’s stock.

Hibbett Price Performance

Hibbett stock opened at $87.34 on Friday. The stock has a market cap of $1.04 billion, a P/E ratio of 10.76, a PEG ratio of 1.40 and a beta of 1.88. Hibbett, Inc. has a 1 year low of $36.63 and a 1 year high of $87.41. The firm’s 50 day moving average price is $86.80 and its 200-day moving average price is $77.92.

Hibbett (NASDAQ:HIBB) last released its quarterly earnings data on Wednesday, June 5th. The company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.01). The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $452.94 million. Hibbett had a net margin of 5.80% and a return on equity of 24.15%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.74 EPS. As a group, equities analysts expect that Hibbett, Inc. will post 8.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Hibbett in a research note on Wednesday, April 24th. Telsey Advisory Group restated a “market perform” rating and set a $87.50 target price on shares of Hibbett in a research note on Monday, June 3rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Hibbett in a research note on Tuesday, April 23rd. B. Riley raised their target price on shares of Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Williams Trading restated a “hold” rating and set a $73.00 target price on shares of Hibbett in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, Hibbett currently has a consensus rating of “Hold” and an average target price of $76.79.

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.