Legacy Capital Partners Inc. Invests $188,000 in Hanesbrands Inc. (HBI)
Legacy Capital Partners Inc. purchased a new position in Hanesbrands Inc. (NYSE:HBI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,519 shares of the textile maker’s stock, valued at approximately $188,000.
Other large investors also recently bought and sold shares of the company. Comerica Bank raised its holdings in Hanesbrands by 0.9% during the 4th quarter. Comerica Bank now owns 72,967 shares of the textile maker’s stock valued at $1,111,000 after acquiring an additional 673 shares during the period. Hartford Investment Management Co. raised its holdings in Hanesbrands by 1.1% during the 4th quarter. Hartford Investment Management Co. now owns 62,904 shares of the textile maker’s stock valued at $788,000 after acquiring an additional 698 shares during the period. Banced Corp raised its holdings in Hanesbrands by 3.7% during the 4th quarter. Banced Corp now owns 21,075 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 759 shares during the period. Great West Life Assurance Co. Can raised its holdings in Hanesbrands by 0.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 233,350 shares of the textile maker’s stock valued at $2,781,000 after acquiring an additional 825 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in Hanesbrands by 5.3% during the 4th quarter. NEXT Financial Group Inc now owns 17,740 shares of the textile maker’s stock valued at $222,000 after acquiring an additional 890 shares during the period. 97.01% of the stock is currently owned by institutional investors.
HBI has been the topic of a number of analyst reports. Wells Fargo & Co lowered their target price on shares of Hanesbrands from $18.00 to $14.00 and set a “market perform” rating on the stock in a report on Wednesday, January 2nd. Zacks Investment Research cut shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Deutsche Bank cut shares of Hanesbrands from a “buy” rating to a “hold” rating and lowered their target price for the company from $24.00 to $16.00 in a report on Friday, January 11th. Barclays set a $16.00 target price on shares of Hanesbrands and gave the company a “hold” rating in a report on Friday, January 11th. Finally, ValuEngine raised shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Hanesbrands currently has a consensus rating of “Hold” and an average price target of $20.53.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 7th. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Hanesbrands had a net margin of 8.13% and a return on equity of 76.43%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Hanesbrands Inc. will post 1.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 19th were given a $0.15 dividend. The ex-dividend date was Friday, February 15th. This represents a $0.60 annualized dividend and a yield of 3.34%. Hanesbrands’s dividend payout ratio (DPR) is presently 35.09%.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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