B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its holdings in Hanesbrands Inc. (NYSE:HBI) by 55.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,041 shares of the textile maker’s stock after selling 23,933 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Hanesbrands were worth $419,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Millennium Management LLC lifted its position in Hanesbrands by 113.5% during the 2nd quarter. Millennium Management LLC now owns 3,044,642 shares of the textile maker’s stock worth $67,043,000 after acquiring an additional 1,618,879 shares during the period. Worldquant Millennium Quantitative Strategies LLC acquired a new stake in Hanesbrands during the 2nd quarter worth about $2,346,000. Zurich Insurance Group Ltd FI lifted its position in Hanesbrands by 45.1% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 67,900 shares of the textile maker’s stock worth $1,495,000 after acquiring an additional 21,100 shares during the period. Signaturefd LLC lifted its position in Hanesbrands by 26,151.3% during the 2nd quarter. Signaturefd LLC now owns 80,854 shares of the textile maker’s stock worth $1,780,000 after acquiring an additional 80,546 shares during the period. Finally, Morgan Stanley lifted its position in Hanesbrands by 13.3% during the 2nd quarter. Morgan Stanley now owns 3,095,675 shares of the textile maker’s stock worth $68,166,000 after acquiring an additional 362,960 shares during the period. 99.58% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on HBI. Barclays cut Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price target for the company. in a research report on Thursday, August 2nd. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Bank of America lowered their price target on Hanesbrands from $24.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, August 2nd. Macquarie lowered their price target on Hanesbrands from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, August 23rd. Finally, Buckingham Research lowered their price target 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 research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $23.61.
NYSE HBI opened at $17.69 on Friday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.02 and a beta of 0.39. Hanesbrands Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $25.36. The company has a quick ratio of 0.84, a current ratio of 2.02 and a debt-to-equity ratio of 5.41.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. analysts forecast that Hanesbrands Inc. will post 1.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.39%. Hanesbrands’s payout ratio is currently 31.09%.
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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