Hibbett (HIBB) Declares $0.25 Dividend
Hibbett said on May 23, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of June 7, 2023 to qualify for the dividend. Shareholders of record as of June 8, 2023 will receive the payment on June 20, 2023.
At the current share price of $39.19 / share, the stock's dividend yield is 2.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.30%, the lowest has been 1.01%, and the highest has been 12.59%. The standard deviation of yields is 1.98 (n=237).
The current dividend yield is 0.38 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 491 funds or institutions reporting positions in Hibbett. This is a decrease of 10 owner(s) or 2.00% in the last quarter. Average portfolio weight of all funds dedicated to HIBB is 0.10%, a decrease of 6.74%. Total shares owned by institutions decreased in the last three months by 1.17% to 14,528K shares. 
The put/call ratio of HIBB is 2.57, indicating a bearish outlook.
Analyst Price Forecast Suggests 112.68% Upside
As of May 11, 2023, the average one-year price target for Hibbett is 83.35. The forecasts range from a low of 80.80 to a high of $89.25. The average price target represents an increase of 112.68% from its latest reported closing price of 39.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hibbett is 1,881MM, an increase of 10.11%. The projected annual non-GAAP EPS is 10.85.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 928K shares representing 7.28% ownership of the company. In it's prior filing, the firm reported owning 949K shares, representing a decrease of 2.25%. The firm decreased its portfolio allocation in HIBB by 17.85% over the last quarter.
Lsv Asset Management holds 678K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 694K shares, representing a decrease of 2.48%. The firm decreased its portfolio allocation in HIBB by 14.20% over the last quarter.
Macquarie Group holds 525K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 525K shares, representing a decrease of 0.07%. The firm decreased its portfolio allocation in HIBB by 32.84% over the last quarter.
Bronte Capital Management Pty holds 519K shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 508K shares, representing an increase of 2.18%. The firm decreased its portfolio allocation in HIBB by 18.73% over the last quarter.
T. Rowe Price Investment Management holds 453K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 454K shares, representing a decrease of 0.07%. The firm decreased its portfolio allocation in HIBB by 19.28% over the last quarter.
Hibbett Background Information
(This description is provided by the company.)
Hibbett, headquartered in Birmingham, Alabama, is a leading athletic-inspired fashion retailer with 1,067 stores under the Hibbett Sports and City Gear brands, primarily located in small and mid-sized communities. Founded in 1945, Hibbett has a rich history of convenient locations, personalized customer service and access to coveted footwear and apparel from top brands like Nike, Jordan and adidas.
Key filings for this company:
This story originally appeared on Fintel.