Epoch Investment Partners Inc. decreased its holdings in Hanesbrands Inc. (NYSE:HBI) by 12.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,846,480 shares of the textile maker’s stock after selling 568,891 shares during the quarter. Epoch Investment Partners Inc. owned 1.10% of Hanesbrands worth $71,813,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of HBI. Commerce Bank raised its stake in Hanesbrands by 681.3% in the 2nd quarter. Commerce Bank now owns 3,649,612 shares of the textile maker’s stock worth $68,138,000 after purchasing an additional 3,182,489 shares in the last quarter. Millennium Management LLC raised its stake in Hanesbrands by 1,156.5% in the 1st quarter. Millennium Management LLC now owns 2,609,340 shares of the textile maker’s stock worth $51,326,000 after purchasing an additional 2,856,326 shares in the last quarter. Parnassus Investments CA raised its stake in Hanesbrands by 28.9% in the 2nd quarter. Parnassus Investments CA now owns 7,512,685 shares of the textile maker’s stock worth $140,262,000 after purchasing an additional 1,682,318 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Hanesbrands by 8,760.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 1,497,815 shares of the textile maker’s stock worth $27,964,000 after purchasing an additional 1,480,911 shares in the last quarter. Finally, Shapiro Capital Management LLC raised its stake in Hanesbrands by 10.4% in the 1st quarter. Shapiro Capital Management LLC now owns 13,255,537 shares of the textile maker’s stock worth $260,736,000 after purchasing an additional 1,243,925 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Shares of Hanesbrands stock traded up $0.36 during midday trading on Thursday, hitting $16.91. 41,551 shares of the company traded hands, compared to its average volume of 5,202,173. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -15.91, a PEG ratio of 1.11 and a beta of 1.51. The company has a debt-to-equity ratio of 6.49, a quick ratio of 0.93 and a current ratio of 1.60. The firm’s fifty day moving average price is $18.71 and its 200-day moving average price is $19.12. Hanesbrands Inc. has a 12 month low of $12.28 and a 12 month high of $22.82.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Tuesday, August 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Monday, August 9th. Hanesbrands’s payout ratio is 41.38%.
Several analysts have weighed in on the stock. Wedbush began coverage on shares of Hanesbrands in a research note on Monday, October 4th. They issued a “neutral” rating and a $18.00 price objective for the company. B. Riley raised their target price on shares of Hanesbrands from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 6th. Zacks Investment Research lowered shares of Hanesbrands from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Wednesday, October 6th. Wells Fargo & Company raised shares of Hanesbrands from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $23.00 in a report on Tuesday, July 13th. Finally, Barclays raised their target price on shares of Hanesbrands from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $20.89.
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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