Bronte Capital Management Pty Ltd. Sells 3,630 Shares of Hibbett, Inc. (NASDAQ:HIBB)

Bronte Capital Management Pty Ltd. cut its position in Hibbett, Inc. (NASDAQ:HIBB) by 0.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 604,211 shares of the company’s stock after selling 3,630 shares during the quarter. Hibbett comprises 4.2% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 9th biggest holding. Bronte Capital Management Pty Ltd. owned approximately 0.05% of Hibbett worth $43,515,000 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 HIBB. SummerHaven Investment Management LLC raised its holdings in shares of Hibbett by 0.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 19,671 shares of the company’s stock worth $1,417,000 after buying an additional 158 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Hibbett in the fourth quarter worth about $28,000. AJOVista LLC acquired a new stake in shares of Hibbett in the 4th quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $176,000 after buying an additional 1,654 shares in the last quarter. Finally, Barclays PLC increased its holdings in Hibbett by 28.2% in the 3rd quarter. Barclays PLC now owns 11,914 shares of the company’s stock worth $565,000 after purchasing an additional 2,619 shares in the last quarter. Institutional investors own 94.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com started coverage on shares of Hibbett in a research report on Friday, May 3rd. They issued a “hold” rating for the company. B. Riley raised their target price on Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Hibbett in a research report on Tuesday, April 23rd. Robert W. Baird restated a “neutral” rating and set a $87.50 price objective (up from $80.00) on shares of Hibbett in a research report on Friday, April 26th. Finally, Telsey Advisory Group increased their target price on shares of Hibbett from $74.00 to $87.50 and gave the company a “market perform” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.79.

Hibbett Stock Performance

Hibbett stock traded up $0.30 during midday trading on Thursday, hitting $86.98. 306,827 shares of the company’s stock were exchanged, compared to its average volume of 363,896. The stock has a 50-day moving average price of $76.71 and a two-hundred day moving average price of $68.47. Hibbett, Inc. has a 52-week low of $34.86 and a 52-week high of $86.99. The company has a market cap of $1.03 billion, a P/E ratio of 10.59 and a beta of 1.72.

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

Hibbett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, March 20th. Hibbett’s dividend payout ratio is currently 12.21%.

About Hibbett

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.