Stoneridge Investment Partners LLC purchased a new position in Hanesbrands Inc. (NYSE:HBI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 156,735 shares of the textile maker’s stock, valued at approximately $2,889,000.
Several other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC grew its stake in shares of Hanesbrands by 22.6% in the 3rd quarter. Ridgewood Investments LLC now owns 18,157 shares of the textile maker’s stock worth $335,000 after buying an additional 3,351 shares during the last quarter. Lapides Asset Management LLC lifted its position in Hanesbrands by 7.7% in the 3rd quarter. Lapides Asset Management LLC now owns 246,900 shares of the textile maker’s stock valued at $4,550,000 after acquiring an additional 17,700 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in Hanesbrands by 1.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 281,199 shares of the textile maker’s stock valued at $5,182,000 after acquiring an additional 4,598 shares in the last quarter. Check Capital Management Inc. CA lifted its position in Hanesbrands by 0.6% in the 3rd quarter. Check Capital Management Inc. CA now owns 2,719,356 shares of the textile maker’s stock valued at $50,118,000 after acquiring an additional 17,260 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in Hanesbrands in the 3rd quarter valued at approximately $455,000. Institutional investors own 99.58% of the company’s stock.
HBI has been the topic of several analyst reports. Zacks Investment Research raised Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, July 24th. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Barclays cut Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock. in a research report on Thursday, August 2nd. Credit Suisse Group lowered their price objective on Hanesbrands from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 2nd. Finally, Bank of America lowered their price objective on Hanesbrands from $24.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.38.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Wednesday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. Hanesbrands’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, analysts forecast that Hanesbrands Inc. will post 1.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.60 annualized dividend and a dividend yield of 3.41%. Hanesbrands’s payout ratio is 31.09%.
Hanesbrands Company Profile
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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