First Republic Investment Management Inc. lifted its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 2,075.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 247,228 shares of the textile maker’s stock after acquiring an additional 235,865 shares during the period. First Republic Investment Management Inc.’s holdings in Hanesbrands were worth $4,420,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in HBI. Comerica Bank raised its holdings in Hanesbrands by 0.9% during the fourth quarter. Comerica Bank now owns 72,967 shares of the textile maker’s stock worth $1,111,000 after buying an additional 673 shares during the last quarter. Hartford Investment Management Co. raised its holdings in Hanesbrands by 1.1% during the fourth quarter. Hartford Investment Management Co. now owns 62,904 shares of the textile maker’s stock worth $788,000 after buying an additional 698 shares during the last quarter. Banced Corp raised its holdings in Hanesbrands by 3.7% during the fourth quarter. Banced Corp now owns 21,075 shares of the textile maker’s stock worth $264,000 after buying an additional 759 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in Hanesbrands by 0.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 233,350 shares of the textile maker’s stock worth $2,781,000 after buying an additional 825 shares during the last quarter. Finally, NEXT Financial Group Inc raised its holdings in Hanesbrands by 5.3% during the fourth quarter. NEXT Financial Group Inc now owns 17,740 shares of the textile maker’s stock worth $222,000 after buying an additional 890 shares during the last quarter. Institutional investors own 96.38% of the company’s stock.
NYSE HBI opened at $17.80 on Tuesday. Hanesbrands Inc. has a 1 year low of $11.57 and a 1 year high of $22.57. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.66 and a quick ratio of 0.64. The firm has a market capitalization of $6.44 billion, a PE ratio of 10.18, a PEG ratio of 1.01 and a beta of 0.93.
Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 2nd. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Hanesbrands had a net margin of 7.99% and a return on equity of 69.68%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Hanesbrands Inc. will post 1.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.37%. Hanesbrands’s payout ratio is 35.09%.
HBI has been the topic of several research reports. ValuEngine upgraded shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Zacks Investment Research downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Barclays set a $19.00 price objective on shares of Hanesbrands and gave the stock a “hold” rating in a report on Saturday, February 9th. Finally, Deutsche Bank downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $24.00 to $16.00 in a report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $20.36.
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Hanesbrands Company Profile
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.
Further Reading: Diversification
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