State Treasurer State of Michigan Buys 900 Shares of Hanesbrands Inc. (HBI)
State Treasurer State of Michigan grew its stake in Hanesbrands Inc. (NYSE:HBI) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,192 shares of the textile maker’s stock after purchasing an additional 900 shares during the period. State Treasurer State of Michigan’s holdings in Hanesbrands were worth $1,863,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Teachers Advisors LLC grew its holdings in shares of Hanesbrands by 449.4% in the third quarter. Teachers Advisors LLC now owns 3,268,691 shares of the textile maker’s stock worth $60,242,000 after purchasing an additional 2,673,729 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Hanesbrands by 204.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,998,646 shares of the textile maker’s stock valued at $55,265,000 after acquiring an additional 2,012,254 shares during the period. Vanguard Group Inc grew its stake in Hanesbrands by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 38,210,795 shares of the textile maker’s stock valued at $704,224,000 after acquiring an additional 437,526 shares during the period. Fox Run Management L.L.C. acquired a new stake in Hanesbrands during the 4th quarter worth $234,000. Finally, Boenning & Scattergood Inc. boosted its stake in Hanesbrands by 6.3% during the 4th quarter. Boenning & Scattergood Inc. now owns 67,462 shares of the textile maker’s stock worth $845,000 after purchasing an additional 3,998 shares during the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.
Several research firms have recently commented on HBI. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Finally, Barclays set a $19.00 price target on Hanesbrands and gave the stock a “hold” rating in a report on Saturday, February 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Hanesbrands currently has an average rating of “Hold” and an average target price of $18.83.
Shares of NYSE HBI traded up $0.17 during trading on Tuesday, hitting $16.74. 42,231 shares of the company were exchanged, compared to its average volume of 5,646,143. Hanesbrands Inc. has a 12-month low of $11.57 and a 12-month high of $22.57. The company has a quick ratio of 0.64, a current ratio of 1.66 and a debt-to-equity ratio of 3.84. The firm has a market cap of $6.08 billion, a PE ratio of 9.71, a P/E/G ratio of 3.19 and a beta of 0.93.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, May 2nd. The textile maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. Hanesbrands had a net margin of 7.99% and a return on equity of 69.68%. Hanesbrands’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Research analysts expect that Hanesbrands Inc. will post 1.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.60 annualized dividend and a yield of 3.58%. Hanesbrands’s dividend payout ratio (DPR) is currently 35.09%.
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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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