State of Alaska Department of Revenue trimmed its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,444 shares of the textile maker’s stock after selling 4,840 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hanesbrands were worth $882,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. MUFG Americas Holdings Corp purchased a new position in Hanesbrands during the third quarter valued at approximately $27,000. Bartlett & Co. LLC grew its holdings in Hanesbrands by 460.8% in the third quarter. Bartlett & Co. LLC now owns 2,434 shares of the textile maker’s stock worth $37,000 after purchasing an additional 2,000 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new position in Hanesbrands in the second quarter worth $49,000. Phocas Financial Corp. purchased a new position in Hanesbrands in the second quarter worth $573,000. Finally, North Star Investment Management Corp. purchased a new position in Hanesbrands in the third quarter worth $64,000. 96.10% of the stock is currently owned by institutional investors.
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 completion of the sale, the insider now directly owns 520,490 shares in the company, valued at $8,400,708.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.04% of the company’s stock.
NYSE HBI opened at $14.32 on Friday. The firm’s fifty day simple moving average is $14.63 and its two-hundred day simple moving average is $15.11. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. Hanesbrands Inc. has a 12-month low of $12.90 and a 12-month high of $19.38. The firm has a market capitalization of $5.17 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.59 and a beta of 1.13.
Hanesbrands (NYSE:HBI) last released its quarterly 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 business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Hanesbrands Inc. will post 1.76 earnings per share for the current fiscal year.
HBI has been the topic of several analyst reports. Bank of America lowered shares of Hanesbrands from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $16.00 to $13.00 in a report on Friday, December 13th. Goldman Sachs Group set a $15.00 price target on shares of Hanesbrands and gave the stock a “hold” rating in a report on Friday, November 1st. Wells Fargo & Co lowered shares of Hanesbrands from an “equal weight” rating to an “underweight” rating and set a $12.00 price target on the stock. in a report on Thursday, January 2nd. Barclays initiated coverage on shares of Hanesbrands in a report on Tuesday, November 12th. They issued an “equal weight” rating and a $16.00 price target on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Hanesbrands in a report on Monday, November 25th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.14.
Hanesbrands Company Profile
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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