Washington Trust Bank boosted its stake in Hanesbrands Inc. (NYSE:HBI) by 50.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the textile maker’s stock after buying an additional 2,000 shares during the period. Washington Trust Bank’s holdings in Hanesbrands were worth $139,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Hanesbrands by 3,104.9% in the first quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after buying an additional 22,162,112 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of Hanesbrands by 98.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,673,506 shares of the textile maker’s stock valued at $117,782,000 after buying an additional 2,820,380 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of Hanesbrands during the first quarter valued at $55,007,000. Massachusetts Financial Services Co. MA increased its stake in shares of Hanesbrands by 19.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock valued at $330,846,000 after buying an additional 2,544,916 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of Hanesbrands by 94.1% in the first quarter. OppenheimerFunds Inc. now owns 4,649,535 shares of the textile maker’s stock valued at $96,524,000 after buying an additional 2,254,460 shares during the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.
Hanesbrands Inc. (NYSE:HBI) traded down 1.47% during midday trading on Friday, hitting $23.53. The company had a trading volume of 3,650,001 shares. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $28.24. The stock has a market capitalization of $8.58 billion, a PE ratio of 15.42 and a beta of 0.73. The stock has a 50 day moving average price of $23.44 and a 200-day moving average price of $21.73.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that Hanesbrands Inc. will post $1.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. Hanesbrands’s dividend payout ratio is currently 39.47%.
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Several analysts have weighed in on HBI shares. ValuEngine downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research downgraded Hanesbrands from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Buckingham Research restated a “buy” rating and set a $30.00 target price on shares of Hanesbrands in a report on Monday, July 17th. Finally, Credit Suisse Group set a $28.00 target price on Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.57.
In other Hanesbrands news, insider John T. Marsh sold 11,100 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total value of $250,527.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald Evans sold 43,379 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the completion of the transaction, the chief executive officer now owns 1,056,314 shares of the company’s stock, valued at $24,485,358.52. The disclosure for this sale can be found here. Insiders have sold a total of 130,329 shares of company stock valued at $3,016,617 over the last 90 days. Insiders own 1.10% of the company’s stock.
Hanesbrands Company Profile
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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