California State Teachers Retirement System lessened its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 671,788 shares of the textile maker’s stock after selling 77,474 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Hanesbrands worth $15,558,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HBI. Lazard Asset Management LLC raised its holdings in shares of Hanesbrands by 25.0% in the 1st quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. QS Investors LLC raised its holdings in shares of Hanesbrands by 2.8% in the 2nd quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock worth $118,000 after buying an additional 140 shares in the last quarter. Washington Trust Bank raised its holdings in shares of Hanesbrands by 50.0% in the 2nd quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Hanesbrands by 19.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 6,598 shares of the textile maker’s stock worth $152,000 after buying an additional 1,062 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Hanesbrands by 101.1% during the 2nd quarter. IHT Wealth Management LLC now owns 2,652 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 1,333 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.
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A number of equities research analysts recently weighed in on HBI shares. Credit Suisse Group set a $28.00 price target on Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Vetr lowered Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 target price on the stock. in a report on Monday, August 28th. UBS AG reiterated a “buy” rating and set a $27.00 target price (up from $25.00) on shares of Hanesbrands in a report on Tuesday, August 8th. Finally, Instinet downgraded Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Hanesbrands has an average rating of “Hold” and an average price target of $26.80.
Shares of Hanesbrands Inc. (HBI) traded down 1.31% during mid-day trading on Friday, reaching $22.52. 7,203,551 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $24.24 and a 200-day moving average price of $22.96. The stock has a market cap of $8.21 billion, a PE ratio of 14.76 and a beta of 0.72. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $27.07.
Hanesbrands (NYSE:HBI) last announced its earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, analysts predict that Hanesbrands Inc. will post $1.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.66%. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
In other Hanesbrands news, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The shares were 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 in the company, valued at $6,128,046.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Marsh sold 10,325 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the sale, the insider now owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The disclosure for this sale can be found here. 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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