TPG Financial Advisors LLC boosted its position in shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) by 8.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,790 shares of the textile maker’s stock after buying an additional 1,628 shares during the quarter. TPG Financial Advisors LLC’s holdings in Hanesbrands were worth $224,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in Hanesbrands in the first quarter valued at about $30,000. Acadian Asset Management LLC raised its position in shares of Hanesbrands by 109.5% in the 4th quarter. Acadian Asset Management LLC now owns 2,715 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 1,419 shares during the period. Quent Capital LLC bought a new position in Hanesbrands during the 4th quarter worth approximately $44,000. CWM LLC grew its holdings in Hanesbrands by 30.4% during the first quarter. CWM LLC now owns 3,002 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 700 shares during the period. Finally, Carl Stuart Investment Advisor Inc. acquired a new stake in Hanesbrands in the first quarter worth $56,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Monday, August 15th. Stifel Nicolaus cut their price objective on Hanesbrands from $11.00 to $10.00 in a report on Wednesday, July 20th. Wells Fargo & Company lowered their target price on Hanesbrands from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. TheStreet lowered shares of Hanesbrands from a “b-” rating to a “c+” rating in a research note on Monday, June 6th. Finally, Citigroup dropped their price objective on shares of Hanesbrands from $14.00 to $11.00 in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.73.
Hanesbrands Price Performance
Hanesbrands (NYSE:HBI – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The textile maker reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.05). Hanesbrands had a return on equity of 79.09% and a net margin of 6.37%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Hanesbrands Inc. will post 1.16 earnings per share for the current fiscal year.
Hanesbrands Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.11%. Hanesbrands’s payout ratio is 50.00%.
Insider Activity at Hanesbrands
In other Hanesbrands news, CEO Stephen B. Bratspies acquired 30,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were purchased at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the completion of the purchase, the chief executive officer now directly owns 123,754 shares of the company’s stock, valued at $1,070,472.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Tracy M. Preston purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were acquired at an average price of $9.36 per share, for a total transaction of $28,080.00. Following the purchase, the insider now owns 3,000 shares in the company, valued at $28,080. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen B. Bratspies acquired 30,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were bought at an average price of $8.65 per share, with a total value of $259,500.00. Following the completion of the transaction, the chief executive officer now directly owns 123,754 shares of the company’s stock, valued at $1,070,472.10. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 37,000 shares of company stock worth $322,600. Insiders own 0.29% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Hanesbrands (HBI)
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