Victory Capital Management Inc. Buys New Shares in Hanesbrands Inc. (NYSE:HBI)

Victory Capital Management Inc. bought a new stake in Hanesbrands Inc. (NYSE:HBIGet Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 47,750 shares of the textile maker’s stock, valued at approximately $798,000.

Other institutional investors have also added to or reduced their stakes in the company. FSB Premier Wealth Management Inc. acquired a new position in Hanesbrands in the fourth quarter valued at $28,000. CWM LLC acquired a new position in Hanesbrands in the fourth quarter valued at $38,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in Hanesbrands in the fourth quarter valued at $52,000. National Bank of Canada FI acquired a new stake in Hanesbrands during the fourth quarter worth about $65,000. Finally, Widmann Financial Services Inc. acquired a new stake in Hanesbrands during the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 87.58% of the company’s stock.

Several equities research analysts have commented on the company. Credit Suisse Group dropped their price target on Hanesbrands from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 4th. Stifel Nicolaus lowered Hanesbrands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $13.00 in a research note on Thursday, May 5th. StockNews.com assumed coverage on Hanesbrands in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company dropped their price target on Hanesbrands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Finally, Zacks Investment Research upgraded Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research note on Thursday, March 17th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.22.

Shares of HBI stock opened at $13.06 on Friday. The company has a market capitalization of $4.56 billion, a PE ratio of 9.97 and a beta of 1.47. The firm has a fifty day simple moving average of $14.37 and a 200-day simple moving average of $15.75. The company has a current ratio of 1.60, a quick ratio of 0.72 and a debt-to-equity ratio of 4.27. Hanesbrands Inc. has a twelve month low of $12.11 and a twelve month high of $20.74.

Hanesbrands (NYSE:HBIGet Rating) last announced its earnings results on Thursday, May 5th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities research analysts predict that Hanesbrands Inc. will post 1.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 10th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 9th. This represents a $0.60 annualized dividend and a dividend yield of 4.59%. Hanesbrands’s dividend payout ratio (DPR) is presently 45.80%.

Hanesbrands announced that its board has initiated a stock repurchase plan on Thursday, February 3rd that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, CEO Stephen B. Bratspies purchased 34,292 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were purchased at an average cost of $14.63 per share, with a total value of $501,691.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Hanesbrands Profile (Get Rating)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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