Arizona State Retirement System lowered its position in shares of Hanesbrands Inc. (NYSE:HBI) by 55.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,552 shares of the textile maker’s stock after selling 109,229 shares during the period. Arizona State Retirement System’s holdings in Hanesbrands were worth $1,950,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of HBI. Optimum Investment Advisors purchased a new position in Hanesbrands in the 1st quarter worth approximately $103,000. Stratos Wealth Partners LTD. grew its stake in Hanesbrands by 183.5% in the 1st quarter. Stratos Wealth Partners LTD. now owns 7,358 shares of the textile maker’s stock worth $136,000 after buying an additional 4,763 shares in the last quarter. WP Advisors LLC purchased a new position in Hanesbrands in the 2nd quarter worth approximately $145,000. Amica Retiree Medical Trust grew its stake in Hanesbrands by 180.3% in the 2nd quarter. Amica Retiree Medical Trust now owns 7,296 shares of the textile maker’s stock worth $161,000 after buying an additional 4,693 shares in the last quarter. Finally, Delpha Capital Management LLC purchased a new position in Hanesbrands in the 1st quarter worth approximately $185,000. 99.58% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Barclays cut shares of Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price target for the company. in a research note on Thursday, August 2nd. ValuEngine cut shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Bank of America cut their price target on shares of Hanesbrands from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, August 2nd. Macquarie cut their price target on shares of Hanesbrands from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, August 23rd. Finally, Buckingham Research cut their price target on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Hanesbrands presently has an average rating of “Hold” and a consensus price target of $23.61.
Shares of Hanesbrands stock opened at $17.60 on Friday. Hanesbrands Inc. has a 52-week low of $16.38 and a 52-week high of $25.73. The firm has a market capitalization of $6.44 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.01 and a beta of 0.39. The company has a debt-to-equity ratio of 5.41, a current ratio of 2.02 and a quick ratio of 0.84.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $0.53 EPS. Hanesbrands’s revenue for the quarter was up 4.2% on a year-over-year basis. equities research analysts forecast that Hanesbrands Inc. will post 1.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.41%. Hanesbrands’s dividend payout ratio (DPR) is 31.09%.
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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