Trent Capital Management Inc. NC Invests $5.95 Million in Hanesbrands Inc. (HBI)
Trent Capital Management Inc. NC bought a new stake in shares of Hanesbrands Inc. (NYSE:HBI) during the second quarter, Holdings Channel reports. The fund bought 256,980 shares of the textile maker’s stock, valued at approximately $5,952,000. Hanesbrands makes up approximately 8.8% of Trent Capital Management Inc. NC’s portfolio, making the stock its largest position.
Several other institutional investors have also recently bought and sold shares of the stock. Global X Management Co. LLC boosted its position in Hanesbrands by 15.6% in the second quarter. Global X Management Co. LLC now owns 9,135 shares of the textile maker’s stock valued at $212,000 after buying an additional 1,232 shares in the last quarter. Advisor Partners LLC purchased a new position in Hanesbrands during the second quarter valued at about $232,000. Trust Investment Advisors purchased a new position in Hanesbrands during the second quarter valued at about $1,357,000. WealthTrust Axiom LLC boosted its position in Hanesbrands by 130.9% in the second quarter. WealthTrust Axiom LLC now owns 146,844 shares of the textile maker’s stock valued at $3,400,000 after buying an additional 83,244 shares in the last quarter. Finally, First Bank & Trust boosted its position in Hanesbrands by 3.6% in the second quarter. First Bank & Trust now owns 13,063 shares of the textile maker’s stock valued at $302,000 after buying an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.
Shares of Hanesbrands Inc. (NYSE:HBI) opened at 24.31 on Thursday. The stock has a 50 day moving average of $23.17 and a 200-day moving average of $21.68. The firm has a market capitalization of $8.90 billion, a PE ratio of 15.93 and a beta of 0.73. Hanesbrands Inc. has a 12 month low of $18.91 and a 12 month high of $28.24.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities research analysts anticipate that Hanesbrands Inc. will post $1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
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Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Wednesday. UBS AG restated a “buy” rating and set a $27.00 price objective (up from $25.00) on shares of Hanesbrands in a research report on Tuesday. Morgan Stanley upped their price objective on shares of Hanesbrands from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Vetr cut shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective for the company. in a research report on Monday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.57.
In other news, CFO Richard D. Moss sold 20,000 shares of Hanesbrands stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total transaction of $481,600.00. Following the completion of the transaction, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerald Evans sold 43,379 shares of Hanesbrands stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total value of $1,005,525.22. Following the transaction, the chief executive officer now directly owns 1,056,314 shares of the company’s stock, valued at approximately $24,485,358.52. The disclosure for this sale can be found here. Insiders have sold a total of 130,329 shares of company stock valued at $3,016,617 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.
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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