Hibbett, Inc. Announces Quarterly Dividend of $0.25 (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB) announced a quarterly dividend on Wednesday, March 6th, Zacks reports. Investors of record on Thursday, March 21st will be paid a dividend of 0.25 per share on Tuesday, April 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 20th.

Hibbett has a payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hibbett to earn $9.70 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 10.3%.

Hibbett Trading Down 0.7 %

HIBB opened at $68.02 on Tuesday. The business’s fifty day simple moving average is $71.65 and its 200-day simple moving average is $60.36. The company has a market capitalization of $800.60 million, a price-to-earnings ratio of 8.31, a PEG ratio of 3.61 and a beta of 1.77. Hibbett has a 12-month low of $34.86 and a 12-month high of $83.00.

Hibbett (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, March 15th. The company reported $2.55 EPS for the quarter, beating 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 business had revenue of $466.60 million during the quarter, compared to analyst estimates of $477.42 million. During the same quarter in the previous year, the business posted $2.91 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Hibbett will post 8.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HIBB shares. TheStreet upgraded shares of Hibbett from a “c+” rating to a “b-” rating in a research note on Monday, November 27th. Williams Trading reiterated a “hold” rating and set a $73.00 price target on shares of Hibbett in a research note on Monday. Monness Crespi & Hardt lifted their target price on Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday. B. Riley increased their price target on Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $74.00 price target (down from $82.00) on shares of Hibbett in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.86.

Hedge Funds Weigh In On Hibbett

Several hedge funds and other institutional investors have recently made changes to their positions in HIBB. BlackRock Inc. boosted its stake in Hibbett by 4.3% during the 3rd quarter. BlackRock Inc. now owns 2,065,251 shares of the company’s stock worth $102,869,000 after purchasing an additional 84,638 shares during the last quarter. Vanguard Group Inc. lifted its stake in Hibbett by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 892,220 shares of the company’s stock worth $64,258,000 after purchasing an additional 31,679 shares in the last quarter. State Street Corp boosted its holdings in shares of Hibbett by 5.6% during the 2nd quarter. State Street Corp now owns 643,623 shares of the company’s stock worth $23,357,000 after purchasing an additional 34,019 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Hibbett by 1.6% in the fourth quarter. Macquarie Group Ltd. now owns 525,106 shares of the company’s stock valued at $35,823,000 after purchasing an additional 8,018 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Hibbett by 9.5% in the third quarter. Ameriprise Financial Inc. now owns 489,317 shares of the company’s stock valued at $23,247,000 after purchasing an additional 42,313 shares during the last quarter. Hedge funds and other institutional investors own 94.08% of the company’s stock.

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.