Insider Buying: Hanesbrands (HBI) Director Acquires 31,230 Shares of Stock

Hanesbrands (NYSE:HBI) Director David V. Singer bought 31,230 shares of Hanesbrands stock in a transaction on Thursday, May 17th. The stock was acquired at an average price of $17.72 per share, for a total transaction of $553,395.60. Following the purchase, the director now owns 26,880 shares of the company’s stock, valued at $476,313.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of Hanesbrands stock opened at $18.14 on Friday. The firm has a market cap of $6.38 billion, a PE ratio of 9.40, a PEG ratio of 1.34 and a beta of 0.72. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.81 and a current ratio of 2.03. Hanesbrands has a 12 month low of $17.32 and a 12 month high of $17.79.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Tuesday, May 1st. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Hanesbrands had a return on equity of 75.80% and a net margin of 1.08%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. sell-side analysts predict that Hanesbrands will post 1.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Tuesday, May 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Monday, May 14th. Hanesbrands’s payout ratio is currently 31.09%.

Hedge funds have recently modified their holdings of the stock. Lapides Asset Management LLC boosted its position in Hanesbrands by 19.5% during the fourth quarter. Lapides Asset Management LLC now owns 188,900 shares of the textile maker’s stock valued at $3,950,000 after purchasing an additional 30,800 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Hanesbrands by 30.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,075,204 shares of the textile maker’s stock valued at $43,392,000 after purchasing an additional 480,357 shares in the last quarter. BancorpSouth Bank bought a new stake in Hanesbrands during the fourth quarter valued at about $1,995,000. Sasco Capital Inc. CT boosted its position in Hanesbrands by 74.8% during the fourth quarter. Sasco Capital Inc. CT now owns 4,290,375 shares of the textile maker’s stock valued at $89,712,000 after purchasing an additional 1,836,520 shares in the last quarter. Finally, Willingdon Wealth Management bought a new stake in Hanesbrands during the fourth quarter valued at about $1,120,000. 98.80% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on HBI shares. Zacks Investment Research upgraded Hanesbrands from a “strong sell” rating to a “hold” rating and set a $20.00 target price on the stock in a research note on Wednesday, April 11th. B. Riley set a $30.00 target price on Hanesbrands and gave the stock a “buy” rating in a research note on Monday. Bank of America started coverage on Hanesbrands in a research note on Friday, April 6th. They issued a “neutral” rating and a $21.00 target price on the stock. DA Davidson reiterated a “buy” rating and issued a $29.00 target price on shares of Hanesbrands in a research note on Monday, May 7th. Finally, Credit Suisse Group started coverage on Hanesbrands in a research note on Monday, March 12th. They issued a “neutral” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Hanesbrands has a consensus rating of “Hold” and an average target price of $24.22.

About Hanesbrands

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.

Insider Buying and Selling by Quarter for Hanesbrands (NYSE:HBI)

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