Meritage Portfolio Management trimmed its position in Hanesbrands Inc. (NYSE:HBI) by 42.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,014 shares of the textile maker’s stock after selling 67,077 shares during the period. Meritage Portfolio Management’s holdings in Hanesbrands were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in HBI. Principal Financial Group Inc. grew its stake in shares of Hanesbrands by 837.4% in the fourth quarter. Principal Financial Group Inc. now owns 6,512,296 shares of the textile maker’s stock worth $94,949,000 after acquiring an additional 5,817,568 shares in the last quarter. Norges Bank purchased a new stake in shares of Hanesbrands in the fourth quarter valued at about $67,045,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of Hanesbrands by 13.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 21,621,997 shares of the textile maker’s stock valued at $315,249,000 after purchasing an additional 2,512,854 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hanesbrands by 44.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,106,416 shares of the textile maker’s stock valued at $89,032,000 after purchasing an additional 1,890,661 shares in the last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of Hanesbrands by 16.3% in the fourth quarter. Cooke & Bieler LP now owns 10,851,788 shares of the textile maker’s stock valued at $158,219,000 after purchasing an additional 1,523,264 shares in the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.
HBI has been the topic of several recent research reports. TheStreet downgraded shares of Hanesbrands from a “b-” rating to a “c” rating in a report on Tuesday, February 9th. Barclays upped their price objective on shares of Hanesbrands from $16.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, February 10th. Zacks Investment Research raised shares of Hanesbrands from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a research note on Thursday, February 11th. Credit Suisse Group increased their price objective on shares of Hanesbrands from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Hanesbrands from $14.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 21st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.83.
Hanesbrands (NYSE:HBI) last released its earnings results on Monday, February 8th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.64 billion. Hanesbrands had a net margin of 6.68% and a return on equity of 52.04%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities analysts anticipate that Hanesbrands Inc. will post 1.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Friday, February 19th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, February 18th. Hanesbrands’s payout ratio is 34.09%.
In other Hanesbrands news, insider Joia M. Johnson sold 50,000 shares of Hanesbrands stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $20.54, for a total value of $1,027,000.00. Following the transaction, the insider now owns 149,654 shares in the company, valued at $3,073,893.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.
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 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, 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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