Steward Partners Investment Advisory LLC Takes $760,000 Position in Hanesbrands Inc. (HBI)
Steward Partners Investment Advisory LLC purchased a new stake in shares of Hanesbrands Inc. (NYSE:HBI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,851 shares of the textile maker’s stock, valued at approximately $760,000.
Several other institutional investors and hedge funds have also recently modified their holdings of HBI. Check Capital Management Inc. CA lifted its stake in Hanesbrands by 100.0% in the third quarter. Check Capital Management Inc. CA now owns 4,413,635 shares of the textile maker’s stock valued at $108,752,000 after buying an additional 2,207,066 shares during the period. Bank of New York Mellon Corp lifted its stake in Hanesbrands by 33.3% in the third quarter. Bank of New York Mellon Corp now owns 4,638,005 shares of the textile maker’s stock valued at $114,282,000 after buying an additional 1,159,722 shares during the period. Sabal Trust CO acquired a new position in Hanesbrands in the third quarter valued at about $25,479,000. USS Investment Management Ltd acquired a new position in Hanesbrands in the second quarter valued at about $20,937,000. Finally, WBI Investments Inc. acquired a new position in Hanesbrands in the second quarter valued at about $15,165,000. 96.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hanesbrands Inc. (HBI) opened at $21.46 on Friday. Hanesbrands Inc. has a fifty-two week low of $18.90 and a fifty-two week high of $25.73. The stock has a market capitalization of $7,823.97, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 2.90.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.60. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.80 billion. Hanesbrands had a return on equity of 64.73% and a net margin of 9.43%. Hanesbrands’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. sell-side analysts predict that Hanesbrands Inc. will post 1.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.80%. Hanesbrands’s payout ratio is presently 37.04%.
Several equities analysts have weighed in on the company. FBR & Co reissued a “buy” rating and issued a $33.00 target price on shares of Hanesbrands in a research note on Thursday, September 21st. Barclays assumed coverage on Hanesbrands in a research note on Tuesday, September 19th. They issued an “overweight” rating and a $31.00 target price on the stock. Cowen set a $22.00 target price on Hanesbrands and gave the company a “hold” rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, October 9th. Finally, UBS downgraded Hanesbrands from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.13.
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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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