California State Teachers Retirement System trimmed its position in shares of Hanesbrands Inc. (NYSE:HBI) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 574,618 shares of the textile maker’s stock after selling 24,994 shares during the period. California State Teachers Retirement System owned 0.16% of Hanesbrands worth $10,584,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Hanesbrands by 0.5% during the fourth quarter. BlackRock Inc. now owns 23,045,215 shares of the textile maker’s stock valued at $481,874,000 after purchasing an additional 114,629 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Hanesbrands by 5.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,565,151 shares of the textile maker’s stock valued at $378,810,000 after purchasing an additional 1,096,954 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Hanesbrands by 1.5% during the first quarter. Diamond Hill Capital Management Inc. now owns 10,216,744 shares of the textile maker’s stock valued at $188,192,000 after purchasing an additional 152,654 shares during the period. Cooke & Bieler LP grew its holdings in Hanesbrands by 8.0% during the first quarter. Cooke & Bieler LP now owns 5,662,158 shares of the textile maker’s stock valued at $104,297,000 after purchasing an additional 418,003 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Hanesbrands by 22.5% during the fourth quarter. Clearbridge Investments LLC now owns 4,836,671 shares of the textile maker’s stock valued at $101,135,000 after purchasing an additional 887,675 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on HBI shares. B. Riley set a $30.00 price objective on Hanesbrands and gave the company a “buy” rating in a report on Monday, May 14th. DA Davidson reissued a “buy” rating and set a $29.00 price objective on shares of Hanesbrands in a report on Monday, May 7th. Barclays reduced their price objective on Hanesbrands from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Stifel Nicolaus raised Hanesbrands from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $23.00 in a report on Monday, April 23rd. Finally, Zacks Investment Research lowered Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.97.
In other Hanesbrands news, Director David V. Singer acquired 31,230 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was bought at an average price of $17.72 per share, with a total value of $553,395.60. Following the completion of the purchase, the director now owns 26,880 shares of the company’s stock, valued at $476,313.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerald Evans acquired 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were acquired at an average cost of $17.66 per share, with a total value of $309,050.00. Following the purchase, the chief executive officer now directly owns 1,198,206 shares of the company’s stock, valued at approximately $21,160,317.96. The disclosure for this purchase can be found here. Insiders have purchased 70,620 shares of company stock valued at $1,244,864 in the last three months. 1.06% of the stock is owned by corporate insiders.
Hanesbrands stock opened at $22.30 on Wednesday. Hanesbrands Inc. has a one year low of $16.38 and a one year high of $25.73. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.03 and a quick ratio of 0.81. The firm has a market capitalization of $7.91 billion, a PE ratio of 11.55, a P/E/G ratio of 1.66 and a beta of 0.72.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, May 1st. The textile maker reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Hanesbrands had a return on equity of 75.80% and a net margin of 1.08%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. analysts anticipate that Hanesbrands Inc. will post 1.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 5th. Investors of record on Tuesday, May 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.69%. The ex-dividend date was Monday, May 14th. Hanesbrands’s dividend payout ratio is 31.09%.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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