Morgan Stanley
revealed that they own a 5.1% stake in Hibbett Sports, Inc. (NASDAQ:HIBB) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, August 25th. The investor owns 1,066,940 shares of the stock worth approximately $12,803,280. The filing is available through EDGAR at this hyperlink.
Morgan Stanley
provided the following explanation of their ownership:
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A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its position in Hibbett Sports by 152.2% in the first quarter. TD Asset Management Inc. now owns 50,700 shares of the company’s stock valued at $1,496,000 after buying an additional 30,600 shares during the last quarter. Karp Capital Management Corp purchased a new position in Hibbett Sports during the first quarter valued at $348,000. Comerica Bank raised its position in Hibbett Sports by 0.9% in the first quarter. Comerica Bank now owns 24,304 shares of the company’s stock valued at $629,000 after buying an additional 208 shares during the last quarter. Boston Partners purchased a new position in Hibbett Sports during the first quarter valued at $3,342,000. Finally, First Trust Advisors LP raised its position in Hibbett Sports by 50.5% in the first quarter. First Trust Advisors LP now owns 64,151 shares of the company’s stock valued at $1,892,000 after buying an additional 21,535 shares during the last quarter.
Hibbett Sports, Inc. (NASDAQ HIBB) traded up 2.13% during mid-day trading on Friday, hitting $12.00. 676,890 shares of the stock were exchanged. Hibbett Sports, Inc. has a 1-year low of $9.40 and a 1-year high of $45.85. The company has a market capitalization of $249.37 million, a PE ratio of 5.87 and a beta of 0.71. The stock has a 50 day moving average price of $15.68 and a 200 day moving average price of $23.71.
Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, August 18th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. The business had revenue of $188 million for the quarter, compared to the consensus estimate of $190.31 million. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Hibbett Sports, Inc. will post $1.30 earnings per share for the current fiscal year.
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Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Hibbett Sports from a “hold” rating to a “strong sell” rating in a report on Monday, May 1st. MKM Partners restated a “neutral” rating and set a $27.00 target price (down from $29.00) on shares of Hibbett Sports in a report on Monday, May 1st. B. Riley restated a “neutral” rating and set a $29.00 target price on shares of Hibbett Sports in a report on Tuesday, May 2nd. Forward View upgraded shares of Hibbett Sports from a “sell” rating to a “hold” rating in a report on Monday, May 22nd. Finally, Feltl & Co. upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating in a report on Monday, May 22nd. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.79.
Hibbett Sports Company Profile
Hibbett Sports, Inc operates athletic specialty stores in small and mid-sized markets in the South, Southwest, Mid-Atlantic and the Midwest regions of the United States. As of January 28, 2017, the Company had operated 1,078 stores consisting of 1,059 Hibbett Sports stores and 19 smaller-format Sports Additions athletic shoe stores in 35 states.
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