Cumberland Partners Ltd Decreases Stake in Hanesbrands Inc. (HBI)
Cumberland Partners Ltd reduced its stake in Hanesbrands Inc. (NYSE:HBI) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,500 shares of the textile maker’s stock after selling 2,700 shares during the period. Cumberland Partners Ltd’s holdings in Hanesbrands were worth $8,465,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in HBI. Strs Ohio raised its position in shares of Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock valued at $10,026,000 after buying an additional 3,571 shares in the last quarter. Vanguard Group Inc. increased its stake in Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after buying an additional 2,158,679 shares during the last quarter. M. Kraus & Co bought a new stake in Hanesbrands during the first quarter valued at $2,537,000. Farmers & Merchants Investments Inc. increased its stake in Hanesbrands by 104.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 177,162 shares of the textile maker’s stock valued at $3,678,000 after buying an additional 90,511 shares during the last quarter. Finally, Park Avenue Institutional Advisers LLC bought a new stake in Hanesbrands during the first quarter valued at $534,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
Shares of Hanesbrands Inc. (NYSE:HBI) opened at 23.95 on Friday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 15.69 and a beta of 0.73. The firm’s 50-day moving average price is $23.22 and its 200 day moving average price is $21.70. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $28.24.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 11th. Hanesbrands’s payout ratio is 39.47%.
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Several analysts recently weighed in on the company. UBS AG restated 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. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday. Vetr downgraded 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. Finally, Morgan Stanley upped 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Hanesbrands currently 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 company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total value of $250,527.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the completion of 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 ninety days, insiders sold 130,329 shares of company stock worth $3,016,617. 1.10% of the stock is owned by corporate insiders.
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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