Advisor Partners LLC Invests $232,000 in Hanesbrands Inc. (NYSE:HBI)
Advisor Partners LLC purchased a new stake in Hanesbrands Inc. (NYSE:HBI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,023 shares of the textile maker’s stock, valued at approximately $232,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Investment Advisors acquired a new position in Hanesbrands during the second quarter valued at approximately $1,357,000. WealthTrust Axiom LLC boosted its position in Hanesbrands by 130.9% in the second quarter. WealthTrust Axiom LLC now owns 146,844 shares of the textile maker’s stock valued at $3,400,000 after buying an additional 83,244 shares during the period. First Bank & Trust boosted its position in Hanesbrands by 3.6% in the second quarter. First Bank & Trust now owns 13,063 shares of the textile maker’s stock valued at $302,000 after buying an additional 456 shares during the period. IFP Advisors Inc boosted its position in Hanesbrands by 30.0% in the second quarter. IFP Advisors Inc now owns 12,723 shares of the textile maker’s stock valued at $295,000 after buying an additional 2,934 shares during the period. Finally, JLB & Associates Inc. acquired a new position in Hanesbrands during the second quarter valued at approximately $2,826,000. Institutional investors and hedge funds own 93.68% of the company’s stock.
Shares of Hanesbrands Inc. (NYSE HBI) opened at 23.93 on Friday. The firm has a market cap of $8.72 billion, a PE ratio of 15.68 and a beta of 0.73. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $28.24. The firm’s 50-day moving average price is $23.27 and its 200 day moving average price is $21.71.
Hanesbrands (NYSE:HBI) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $1.65 billion. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts anticipate that Hanesbrands Inc. will post $1.99 EPS for the current year.
The company also recently announced 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. This represents a $0.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
Several research analysts recently commented on the company. Zacks Investment Research cut Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS AG reiterated a “buy” rating and issued a $27.00 price target (up previously from $25.00) on shares of Hanesbrands in a research note on Tuesday, August 8th. Morgan Stanley boosted their price target on Hanesbrands from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Finally, Vetr cut Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price target on the stock. in a research note on Monday, August 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $27.57.
In related news, CFO Richard D. Moss sold 20,000 shares of Hanesbrands stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $24.08, for a total transaction of $481,600.00. Following the sale, the chief financial officer now directly owns 254,487 shares of the company’s stock, valued at $6,128,046.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of Hanesbrands stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total value of $1,278,965.00. Following the sale, the insider now directly owns 579,663 shares in the company, valued at $13,274,282.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,329 shares of company stock worth $3,016,617. 1.10% of the stock is owned by company insiders.
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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