Wells Fargo & Company MN Reduces Position in Hibbett Sports, Inc. (HIBB)

Wells Fargo & Company MN reduced its position in shares of Hibbett Sports, Inc. (NASDAQ:HIBB) by 12.8% in the 3rd quarter, Holdings Channel reports. The firm owned 65,027 shares of the company’s stock after selling 9,534 shares during the quarter. Wells Fargo & Company MN’s holdings in Hibbett Sports were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Hibbett Sports by 9.0% in the 2nd quarter. BlackRock Inc. now owns 2,815,369 shares of the company’s stock valued at $64,470,000 after acquiring an additional 233,090 shares in the last quarter. FMR LLC raised its holdings in Hibbett Sports by 4.6% in the 2nd quarter. FMR LLC now owns 1,336,962 shares of the company’s stock valued at $30,617,000 after acquiring an additional 59,200 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Hibbett Sports by 35.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 690,596 shares of the company’s stock valued at $12,983,000 after acquiring an additional 180,412 shares in the last quarter. Millennium Management LLC raised its holdings in Hibbett Sports by 2,591.2% in the 2nd quarter. Millennium Management LLC now owns 415,043 shares of the company’s stock valued at $9,504,000 after acquiring an additional 399,621 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Hibbett Sports by 9.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 397,537 shares of the company’s stock valued at $9,104,000 after acquiring an additional 33,951 shares in the last quarter.

Hibbett Sports stock opened at $15.88 on Friday. Hibbett Sports, Inc. has a 52 week low of $13.08 and a 52 week high of $29.60. The firm has a market cap of $298.06 million, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.28 and a beta of 0.55.

Hibbett Sports (NASDAQ:HIBB) last posted its quarterly earnings results on Tuesday, November 27th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Hibbett Sports had a return on equity of 9.45% and a net margin of 3.25%. The business had revenue of $216.89 million for the quarter, compared to analyst estimates of $217.56 million. During the same period last year, the firm posted $0.37 EPS. Hibbett Sports’s quarterly revenue was down 8.8% on a year-over-year basis. Research analysts expect that Hibbett Sports, Inc. will post 1.58 earnings per share for the current fiscal year.

Several brokerages have weighed in on HIBB. BidaskClub raised Hibbett Sports from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. ValuEngine raised Hibbett Sports from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Bank of America reaffirmed an “underperform” rating and issued a $15.00 price objective (down from $18.00) on shares of Hibbett Sports in a report on Friday, November 30th. Zacks Investment Research raised Hibbett Sports from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Finally, Canaccord Genuity set a $20.00 price objective on Hibbett Sports and gave the company a “hold” rating in a report on Wednesday, November 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.30.

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Hibbett Sports Profile

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. As of March 28, 2018, it operated approximately 1,000 stores primarily in small and mid-sized communities in the United States.

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Institutional Ownership by Quarter for Hibbett Sports (NASDAQ:HIBB)

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