Taylor Hoffman Wealth Management decreased its stake in Hanesbrands Inc. (NYSE:HBI) by 35.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,269 shares of the textile maker’s stock after selling 6,674 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Hanesbrands were worth $188,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in HBI. Bartlett & Co. LLC lifted its holdings in Hanesbrands by 460.8% during the 3rd quarter. Bartlett & Co. LLC now owns 2,434 shares of the textile maker’s stock worth $37,000 after buying an additional 2,000 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Hanesbrands by 511.7% during the second quarter. Golden State Wealth Management LLC now owns 2,514 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 2,103 shares in the last quarter. Private Ocean LLC bought a new position in shares of Hanesbrands during the second quarter valued at approximately $49,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Hanesbrands during the second quarter valued at approximately $49,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Hanesbrands during the second quarter valued at approximately $49,000. 90.72% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on HBI shares. UBS Group reduced their price target on shares of Hanesbrands from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Bank of America reduced their price target on shares of Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. ValuEngine downgraded shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Citigroup reduced their price target on shares of Hanesbrands from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Goldman Sachs Group set a $15.00 price target on shares of Hanesbrands and gave the company a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $16.00.
In other news, insider W Howard Upchurch, Jr. sold 93,261 shares of Hanesbrands stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $16.14, for a total transaction of $1,505,232.54. Following the transaction, the insider now owns 520,490 shares in the company, valued at approximately $8,400,708.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joia M. Johnson purchased 7,100 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $13.97 per share, for a total transaction of $99,187.00. Following the purchase, the insider now directly owns 115,830 shares in the company, valued at $1,618,145.10. The disclosure for this purchase can be found here. Company insiders own 1.04% of the company’s stock.
Shares of HBI traded up $0.02 on Friday, hitting $15.86. 3,945,617 shares of the stock traded hands, compared to its average volume of 5,248,945. The company has a market capitalization of $5.76 billion, a PE ratio of 9.27, a P/E/G ratio of 2.25 and a beta of 1.17. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.72 and a current ratio of 1.73. The business has a 50 day simple moving average of $15.27 and a 200 day simple moving average of $15.83. Hanesbrands Inc. has a one year low of $11.57 and a one year high of $19.38.
Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.54 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. Hanesbrands had a net margin of 8.35% and a return on equity of 57.95%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Hanesbrands Inc. will post 1.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, November 8th. Hanesbrands’s dividend payout ratio is currently 35.09%.
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.
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