Texas Permanent School Fund Corp reduces position in Hibbett, Inc. (NASDAQ:HIBB)

Texas Permanent School Fund Corp reduced its holdings in Hibbett, Inc. (NASDAQ:HIBB – Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,303 shares of the company after selling 403 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Hibbett worth $791,000 in its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings in the company. Chase Investment Counsel Corp purchased a new stake in shares of Hibbett during the first quarter worth approximately $307,000. Janney Montgomery Scott LLC purchased a new stake in shares of Hibbett during the first quarter worth approximately $559,000. BNP Paribas Financial Markets increased its position in shares of Hibbett by 46.2% during the first quarter. BNP Paribas Financial Markets now owns 71,115 shares of the company’s stock worth $5,462,000 after acquiring an additional 22,481 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Hibbett by 9.0% during the first 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 in the last quarter. Finally, Stonegate Investment Group LLC bought a new stake in shares of Hibbett in the first quarter worth about $203,000. 94.08% of the shares are held by hedge funds and other institutional investors.

Hibbett Stock Performance

NASDAQ:HIBB opened Friday at $87.44. The company has a market cap of $1.04 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.40, and a beta of 1.88. The stock has a 50-day moving average of $86.87 and a 200-day moving average of $78.41. Hibbett, Inc. has a 52-week low of $36.77 and a 52-week high of $87.51.

Hibbett (NASDAQ:HIBB – Get Free Report) last released its earnings results on Wednesday, June 5. The company reported $2.67 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 revenue for the quarter was down 1.8% compared to the year-ago quarter. In the same period last year, the company reported $2.74 EPS. Analysts as a group predict that Hibbett, Inc. will post 8.19 EPS for the current fiscal year.

Changes in analyst ratings

Several brokerages have recently weighed in on HIBB. Robert W. Baird restated a “neutral” rating and gave a $87.50 price target (up from $80.00) on shares of Hibbett in a report on Friday, April 26th. B. Riley raised 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. Telsey Advisory Group restated a “market perform” rating and gave a $87.50 price target on shares of Hibbett in a report on Monday, June 3rd. StockNews.com initiated coverage on Hibbett in a report on Sunday, July 14th. They gave the company a “hold” rating. Finally, Benchmark restated a “hold” rating on shares of Hibbett in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “hold” and a consensus price target of $76.79.

Check out our latest stock report on HIBB

About Hibbett

(Free Report)

Hibbett, Inc., together with its subsidiaries, is engaged in the retail sale of sports-inspired fashion products in the United States. The stores offer a variety 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 footwear stores.

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