Baird Financial Group Inc. trimmed its holdings in Hanesbrands Inc. (NYSE:HBI) by 91.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,801 shares of the textile maker’s stock after selling 1,149,096 shares during the period. Baird Financial Group Inc.’s holdings in Hanesbrands were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Optimum Investment Advisors acquired a new position in Hanesbrands in the first quarter valued at about $103,000. Stratos Wealth Partners LTD. boosted its position in shares of Hanesbrands by 183.5% during the first quarter. Stratos Wealth Partners LTD. now owns 7,358 shares of the textile maker’s stock worth $136,000 after buying an additional 4,763 shares during the period. WP Advisors LLC acquired a new position in shares of Hanesbrands during the second quarter worth about $145,000. Amica Retiree Medical Trust boosted its position in shares of Hanesbrands by 180.3% during the second quarter. Amica Retiree Medical Trust now owns 7,296 shares of the textile maker’s stock worth $161,000 after buying an additional 4,693 shares during the period. Finally, Delpha Capital Management LLC acquired a new position in shares of Hanesbrands during the first quarter worth about $185,000. 99.58% of the stock is owned by hedge funds and other institutional investors.
HBI has been the subject of several recent research reports. Credit Suisse Group reduced their price objective on Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 2nd. ValuEngine raised Hanesbrands from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. UBS Group initiated coverage on Hanesbrands in a research report on Thursday, June 21st. They set a “neutral” rating and a $22.00 price objective for the company. Zacks Investment Research raised Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, July 24th. Finally, Buckingham Research reduced their price objective on Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.61.
HBI opened at $17.69 on Friday. Hanesbrands Inc. has a 52-week low of $16.38 and a 52-week high of $25.36. The stock has a market cap of $6.46 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.02 and a beta of 0.39. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.84 and a current ratio of 2.02.
Hanesbrands (NYSE:HBI) last released its earnings results on Wednesday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). Hanesbrands had a return on equity of 78.67% and a net margin of 0.58%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue was up 4.2% on a year-over-year basis. equities research analysts predict that Hanesbrands Inc. will post 1.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Tuesday, August 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 13th. This represents a $0.60 annualized dividend and a yield of 3.39%. Hanesbrands’s payout ratio is presently 31.09%.
Hanesbrands Company Profile
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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