Valeo Financial Advisors LLC Takes Position in Hanesbrands Inc. (HBI)
Valeo Financial Advisors LLC bought a new position in Hanesbrands Inc. (NYSE:HBI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,596 shares of the textile maker’s stock, valued at approximately $138,000.
A number of other hedge funds have also modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Hanesbrands by 128.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 265,361 shares of the textile maker’s stock worth $6,528,000 after acquiring an additional 149,201 shares during the period. Patten Group Inc. raised its stake in shares of Hanesbrands by 545.7% during the 3rd quarter. Patten Group Inc. now owns 30,477 shares of the textile maker’s stock valued at $1,508,000 after purchasing an additional 25,757 shares during the period. Engine Capital Management LLC bought a new stake in shares of Hanesbrands during the 3rd quarter valued at $106,000. Premier Asset Management LLC bought a new stake in shares of Hanesbrands during the 3rd quarter valued at $812,000. Finally, Janus Henderson Group PLC raised its stake in shares of Hanesbrands by 26.4% during the 3rd quarter. Janus Henderson Group PLC now owns 825,456 shares of the textile maker’s stock valued at $20,336,000 after purchasing an additional 172,478 shares during the period. Institutional investors and hedge funds own 96.92% of the company’s stock.
A number of analysts recently issued reports on the company. ValuEngine lowered Hanesbrands from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Barclays initiated coverage on Hanesbrands in a research report on Tuesday, September 19th. They set an “overweight” rating and a $31.00 target price for the company. FBR & Co restated a “buy” rating and set a $33.00 target price on shares of Hanesbrands in a research report on Thursday, September 21st. Instinet cut Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a report on Thursday, September 21st. Finally, Nomura cut Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $26.13.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results 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 firm had revenue of $1.80 billion for 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%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. sell-side analysts expect that Hanesbrands Inc. will post 1.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.82%. Hanesbrands’s dividend payout ratio is currently 37.04%.
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Hanesbrands Company Profile
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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