Hibbett Sees Unusually High Options Volume (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB) was the target of some unusual options trading on Tuesday. Stock traders purchased 2,754 call options on the company. This is an increase of 640% compared to the typical volume of 372 call options.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HIBB shares. B. Riley boosted their price objective on Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Telsey Advisory Group boosted their price objective on Hibbett from $74.00 to $87.50 and gave the stock a “market perform” rating in a report on Tuesday. Williams Trading reissued a “hold” rating and set a $73.00 price objective on shares of Hibbett in a report on Monday, March 18th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Hibbett in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.79.

Hibbett Price Performance

Shares of HIBB stock opened at $86.15 on Wednesday. The stock has a market cap of $1.02 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.75. The stock has a 50-day moving average of $74.40 and a 200-day moving average of $65.63. Hibbett has a one year low of $34.86 and a one year high of $86.70.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.01. Hibbett had a return on equity of 25.72% and a net margin of 5.97%. The business had revenue of $466.60 million during the quarter, compared to analyst estimates of $477.42 million. During the same period in the previous year, the firm earned $2.91 EPS. Hibbett’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Hibbett will post 8.21 earnings per share for the current year.

Hibbett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Hibbett’s dividend payout ratio is presently 12.21%.

Hedge Funds Weigh In On Hibbett

Institutional investors and hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund acquired a new position in shares of Hibbett in the 3rd quarter valued at approximately $371,000. Boston Partners acquired a new position in Hibbett during the 3rd quarter worth approximately $2,242,000. Trexquant Investment LP acquired a new position in Hibbett during the 3rd quarter worth approximately $1,685,000. Charles Schwab Investment Management Inc. boosted its position in Hibbett by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock worth $12,412,000 after acquiring an additional 34,200 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Hibbett by 46.4% during the 4th quarter. SG Americas Securities LLC now owns 8,822 shares of the company’s stock worth $635,000 after acquiring an additional 2,796 shares during the last quarter. 94.08% of the stock is currently owned by institutional investors and hedge funds.

Hibbett Company Profile

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.