Reinhart Partners Inc. purchased a new stake in Hanesbrands Inc. (NYSE:HBI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 908,443 shares of the textile maker’s stock, valued at approximately $13,917,000. Reinhart Partners Inc. owned 0.25% of Hanesbrands as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its position in shares of Hanesbrands by 95.4% during the first quarter. FMR LLC now owns 28,275 shares of the textile maker’s stock worth $506,000 after purchasing an additional 13,807 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Hanesbrands by 21.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 490,677 shares of the textile maker’s stock worth $8,773,000 after purchasing an additional 86,798 shares during the period. Investors Research Corp raised its position in shares of Hanesbrands by 22.2% during the second quarter. Investors Research Corp now owns 3,300 shares of the textile maker’s stock worth $57,000 after purchasing an additional 600 shares during the period. Naples Global Advisors LLC raised its position in shares of Hanesbrands by 2.9% during the second quarter. Naples Global Advisors LLC now owns 25,777 shares of the textile maker’s stock worth $444,000 after purchasing an additional 725 shares during the period. Finally, Trilogy Capital Inc. raised its position in shares of Hanesbrands by 4.8% during the second quarter. Trilogy Capital Inc. now owns 39,811 shares of the textile maker’s stock worth $651,000 after purchasing an additional 1,808 shares during the period. 90.72% of the stock is currently owned by hedge funds and other institutional investors.
Hanesbrands stock traded up $0.02 during trading on Friday, hitting $15.86. 3,945,617 shares of the company were exchanged, compared to its average volume of 5,248,945. The company has a market capitalization of $5.76 billion, a P/E ratio of 9.27, a PEG ratio of 2.25 and a beta of 1.17. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. The business’s 50 day moving average is $15.27 and its 200 day moving average is $15.83. Hanesbrands Inc. has a 52 week low of $11.57 and a 52 week high of $19.38.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.86 billion. Hanesbrands had a return on equity of 57.95% and a net margin of 8.35%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Equities analysts expect that Hanesbrands Inc. will post 1.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 3.78%. Hanesbrands’s payout ratio is 35.09%.
HBI has been the subject of several recent research reports. ValuEngine downgraded Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. UBS Group decreased their price target on Hanesbrands from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Bank of America decreased their price target on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Citigroup decreased their price target on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Goldman Sachs Group set a $15.00 price target on Hanesbrands and gave the stock a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.
In other news, insider Joia M. Johnson purchased 7,100 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $13.97 per share, for a total transaction of $99,187.00. Following the purchase, the insider now owns 115,830 shares of the company’s stock, valued at $1,618,145.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider W Howard Upchurch, Jr. sold 93,261 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $16.14, for a total value of $1,505,232.54. Following the transaction, the insider now owns 520,490 shares of the company’s stock, valued at approximately $8,400,708.60. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.
Hanesbrands Company Profile
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.
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