HanesBrands Inc. (HBI) Stake Raised by Highland Capital Management LLC
Highland Capital Management LLC raised its position in HanesBrands Inc. (NYSE:HBI) by 30.2% during the third quarter, Holdings Channel reports. The firm owned 62,521 shares of the company’s stock after buying an additional 14,503 shares during the period. Highland Capital Management LLC’s holdings in HanesBrands were worth $1,579,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of HBI. Adage Capital Partners GP L.L.C. raised its position in shares of HanesBrands by 3.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 5,096,554 shares of the company’s stock worth $128,076,000 after buying an additional 149,700 shares during the period. Meritage Group LP increased its stake in HanesBrands by 112.9% in the second quarter. Meritage Group LP now owns 3,673,626 shares of the company’s stock worth $92,318,000 after buying an additional 1,948,446 shares during the period. Massachusetts Financial Services Co. MA increased its stake in HanesBrands by 10.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,671,586 shares of the company’s stock worth $92,267,000 after buying an additional 352,212 shares during the period. TimesSquare Capital Management LLC increased its stake in HanesBrands by 1.4% in the second quarter. TimesSquare Capital Management LLC now owns 3,237,825 shares of the company’s stock worth $81,367,000 after buying an additional 43,225 shares during the period. Finally, RidgeWorth Capital Management LLC increased its stake in HanesBrands by 170.5% in the second quarter. RidgeWorth Capital Management LLC now owns 2,887,677 shares of the company’s stock worth $73,924,000 after buying an additional 1,820,170 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.
HanesBrands Inc. (NYSE:HBI) traded down 1.35% during trading on Tuesday, hitting $23.47. 6,011,852 shares of the stock were exchanged. The firm has a market capitalization of $8.87 billion, a PE ratio of 18.15 and a beta of 1.05. HanesBrands Inc. has a 12-month low of $23.25 and a 12-month high of $31.59. The stock has a 50 day moving average price of $24.65 and a 200-day moving average price of $25.97.
HanesBrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The business earned $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. HanesBrands had a net margin of 8.55% and a return on equity of 61.39%. HanesBrands’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. On average, equities research analysts anticipate that HanesBrands Inc. will post $1.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 10th. HanesBrands’s dividend payout ratio is currently 33.85%.
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HBI has been the subject of a number of research analyst reports. Zacks Investment Research downgraded HanesBrands from a “hold” rating to a “sell” rating in a research report on Monday. Cowen and Company downgraded HanesBrands from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $33.00 to $27.00 in a research report on Wednesday, October 12th. Oppenheimer Holdings Inc. set a $35.00 target price on HanesBrands and gave the stock a “buy” rating in a research report on Monday. Citigroup Inc. cut their target price on HanesBrands from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $37.00 target price on shares of HanesBrands in a research report on Wednesday, September 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.69.
In related news, Director Jessica Tuchman Mathews sold 5,433 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $24.52, for a total value of $133,217.16. Following the completion of the sale, the director now owns 127,839 shares of the company’s stock, valued at $3,134,612.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
HanesBrands Company Profile
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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