Insider Selling: Hanesbrands CEO Unloads 30,000 Shares of Stock (HBI)
Hanesbrands (NYSE:HBI) CEO Richard A. Noll sold 30,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $98.28, for a total value of $2,948,400.00. Following the transaction, the chief executive officer now directly owns 437,484 shares in the company, valued at approximately $42,995,928. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on HBI. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Hanesbrands in a research note on Friday, July 25th. They now have a $121.00 price target on the stock, up previously from $113.00. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Hanesbrands in a research note on Friday, July 25th. They now have a $121.00 price target on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Hanesbrands in a research note on Thursday, July 24th. They now have a $110.00 price target on the stock, up previously from $85.00. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $102.36.
Hanesbrands (NYSE:HBI) traded down 0.03% during mid-day trading on Wednesday, hitting $97.84. The stock had a trading volume of 457,158 shares. Hanesbrands has a 52-week low of $58.13 and a 52-week high of $106.62. The stock’s 50-day moving average is $97.98 and its 200-day moving average is $82.84. The company has a market cap of $9.748 billion and a P/E ratio of 28.20.
Hanesbrands (NYSE:HBI) last announced its earnings results on Wednesday, July 23rd. The company reported $1.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.49 by $0.22. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted $1.19 earnings per share. Hanesbrands’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that Hanesbrands will post $5.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, August 8th.
Hanesbrands Inc is a consumer goods company with a portfolio of apparel brands, including Hanes, Champion, Bali, Playtex, Just My Size, L’eggs, barely there, Wonderbra, Gear for Sports, Stedman, Zorba, Rinbros, Sol y Oro, Outer Banks and Duofold.
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