Hanesbrands Inc. (HBI) Plans Quarterly Dividend of $0.15
Hanesbrands Inc. (NYSE:HBI) declared a quarterly dividend on Tuesday, July 25th, RTT News reports. Shareholders of record on Tuesday, August 15th will be paid a dividend of 0.15 per share by the textile maker on Wednesday, September 6th. This represents a $0.60 annualized dividend and a yield of 2.55%.
Hanesbrands has raised its dividend by an average of 43.1% per year over the last three years and has increased its dividend every year for the last 3 years. Hanesbrands has a payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hanesbrands to earn $2.14 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 28.0%.
Shares of Hanesbrands (NYSE HBI) traded up 1.42% during trading on Tuesday, reaching $23.57. 2,351,480 shares of the company’s stock traded hands. The stock has a 50-day moving average of $22.63 and a 200-day moving average of $21.54. Hanesbrands has a 1-year low of $18.91 and a 1-year high of $28.24. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 17.02 and a beta of 0.74.
Hanesbrands (NYSE:HBI) last announced its earnings results on Tuesday, May 2nd. The textile maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hanesbrands had a net margin of 8.56% and a return on equity of 65.05%. On average, equities analysts predict that Hanesbrands will post $1.97 EPS for the current fiscal year.
In other news, CEO Gerald Evans sold 43,379 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the transaction, the chief executive officer now directly owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the completion of the transaction, the insider now owns 579,663 shares in the company, valued at $13,274,282.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,438 shares of company stock worth $3,450,467. Insiders own 1.10% of the company’s stock.
HBI has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Hanesbrands in a research note on Tuesday, March 28th. They set a “neutral” rating and a $20.00 price objective on the stock. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Oppenheimer Holdings, Inc. set a $32.00 price objective on shares of Hanesbrands and gave the company a “buy” rating in a research note on Wednesday, April 12th. Finally, Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $23.91 price objective on the stock. in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.74.
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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