Alliancebernstein L.P. trimmed its position in Hanesbrands Inc. (NYSE:HBI) by 11.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 587,719 shares of the textile maker’s stock after selling 73,005 shares during the quarter. Alliancebernstein L.P. owned approximately 0.16% of Hanesbrands worth $10,832,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in HBI. Epoch Investment Partners Inc. raised its holdings in shares of Hanesbrands by 688.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,381,283 shares of the textile maker’s stock valued at $96,476,000 after purchasing an additional 3,825,344 shares in the last quarter. Parnassus Investments CA raised its stake in Hanesbrands by 11.5% during the 2nd quarter. Parnassus Investments CA now owns 16,280,808 shares of the textile maker’s stock worth $358,503,000 after acquiring an additional 1,680,808 shares in the last quarter. Millennium Management LLC raised its stake 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 in the last quarter. Investec Asset Management LTD acquired a new stake in Hanesbrands during the 2nd quarter worth $32,830,000. Finally, BlackRock Inc. raised its stake in Hanesbrands by 4.5% during the 2nd quarter. BlackRock Inc. now owns 23,662,833 shares of the textile maker’s stock worth $521,053,000 after acquiring an additional 1,028,890 shares in the last quarter.
NYSE HBI opened at $15.16 on Friday. The company has a current ratio of 1.84, a quick ratio of 0.79 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 0.89 and a beta of 0.36. Hanesbrands Inc. has a one year low of $14.39 and a one year high of $23.33.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.87 billion. Hanesbrands had a net margin of 0.10% and a return on equity of 85.49%. Hanesbrands’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Equities analysts anticipate that Hanesbrands Inc. will post 1.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 13th were paid a $0.15 dividend. The ex-dividend date was Friday, November 9th. This represents a $0.60 dividend on an annualized basis and a yield of 3.96%. Hanesbrands’s dividend payout ratio is presently 31.09%.
Several brokerages recently commented on HBI. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Nomura cut their price target on shares of Hanesbrands from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. Buckingham Research cut their price target on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Standpoint Research began coverage on shares of Hanesbrands in a research note on Tuesday, October 23rd. They set a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America cut their price target on shares of Hanesbrands from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Hanesbrands has a consensus rating of “Hold” and a consensus target price of $21.60.
In other Hanesbrands news, insider Joia M. Johnson sold 20,000 shares of Hanesbrands stock in a transaction on Monday, November 5th. The shares were sold at an average price of $16.52, for a total value of $330,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jessica Tuchman Mathews sold 2,115 shares of Hanesbrands stock in a transaction on Monday, November 12th. The shares were sold at an average price of $16.54, for a total transaction of $34,982.10. Following the completion of the transaction, the director now owns 132,129 shares in the company, valued at $2,185,413.66. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 61,600 shares of company stock worth $940,079. 1.06% of the stock is currently owned by company insiders.
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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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