State Board of Administration of Florida Retirement System lowered its stake in Hibbett Sports Inc. (NASDAQ:HIBB) by 8.1% during the second quarter, Holdings Channel reports. The fund owned 20,140 shares of the company’s stock after selling 1,781 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of Hibbett Sports worth $701,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in shares of Hibbett Sports during the second quarter valued at about $135,000. M&T Bank Corp acquired a new position in shares of Hibbett Sports during the first quarter valued at about $218,000. Legal & General Group Plc raised its position in shares of Hibbett Sports by 21.6% in the first quarter. Legal & General Group Plc now owns 6,413 shares of the company’s stock valued at $230,000 after buying an additional 1,139 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Hibbett Sports during the second quarter valued at about $244,000. Finally, Capstone Asset Management Co. raised its position in shares of Hibbett Sports by 1.9% in the second quarter. Capstone Asset Management Co. now owns 7,373 shares of the company’s stock valued at $257,000 after buying an additional 140 shares in the last quarter.
Hibbett Sports Inc. (NASDAQ:HIBB) traded up 1.86% during mid-day trading on Friday, hitting $39.90. The stock had a trading volume of 258,140 shares. Hibbett Sports Inc. has a 52 week low of $27.58 and a 52 week high of $41.94. The stock has a market capitalization of $877.28 million, a P/E ratio of 13.01 and a beta of 1.08. The company’s 50 day moving average is $39.31 and its 200-day moving average is $36.12.
Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Friday, August 19th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $206.90 million for the quarter. Hibbett Sports had a return on equity of 22.04% and a net margin of 7.32%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. On average, analysts expect that Hibbett Sports Inc. will post $3.00 EPS for the current fiscal year.
Several equities research analysts have commented on HIBB shares. Brean Capital restated a “sell” rating on shares of Hibbett Sports in a research note on Thursday, September 22nd. Forward View upgraded Hibbett Sports from a “hold” rating to a “buy” rating in a research note on Sunday, September 18th. B. Riley restated a “neutral” rating and issued a $42.00 target price on shares of Hibbett Sports in a research note on Saturday, August 27th. Piper Jaffray Cos. cut their target price on Hibbett Sports from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $47.00 price objective on shares of Hibbett Sports in a research note on Thursday, August 25th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.18.
In related news, Director Albert C. Johnson sold 1,000 shares of Hibbett Sports stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $38.81, for a total transaction of $38,810.00. Following the transaction, the director now owns 4,837 shares of the company’s stock, valued at $187,723.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alton E. Yother sold 1,331 shares of Hibbett Sports stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $35.62, for a total value of $47,410.22. Following the transaction, the director now directly owns 1,331 shares in the company, valued at approximately $47,410.22. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Hibbett Sports Company Profile
Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.
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