Associated Banc Corp Purchases 86,951 Shares of Hanesbrands Inc. (HBI)
Associated Banc Corp lifted its position in Hanesbrands Inc. (NYSE:HBI) by 18.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 547,423 shares of the textile maker’s stock after purchasing an additional 86,951 shares during the quarter. Associated Banc Corp owned 0.15% of Hanesbrands worth $12,678,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after purchasing an additional 2,158,679 shares in the last quarter. BlackRock Inc. raised its stake in shares of Hanesbrands by 3,104.9% in the first quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after purchasing an additional 22,162,112 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Hanesbrands by 19.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock valued at $330,846,000 after purchasing an additional 2,544,916 shares in the last quarter. State Street Corp raised its stake in shares of Hanesbrands by 2.2% in the first quarter. State Street Corp now owns 15,376,351 shares of the textile maker’s stock valued at $319,214,000 after purchasing an additional 332,432 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Hanesbrands by 0.3% in the first quarter. FMR LLC now owns 14,130,991 shares of the textile maker’s stock valued at $293,359,000 after purchasing an additional 45,960 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.
A number of research analysts recently commented on HBI shares. BidaskClub lowered Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Credit Suisse Group set a $28.00 price target on Hanesbrands and gave the company a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. ValuEngine upgraded Hanesbrands from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Vetr cut Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price target on the stock. in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.18.
In other news, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the transaction, the insider now owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total value of $481,600.00. Following the sale, the chief financial officer now owns 254,487 shares in the company, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. Insiders have sold a total of 73,704 shares of company stock valued at $1,737,713 in the last three months. 1.10% of the stock is owned by insiders.
Shares of Hanesbrands Inc. (HBI) traded up 0.059% during mid-day trading on Wednesday, hitting $25.615. The stock had a trading volume of 767,526 shares. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $27.07. The stock has a 50 day moving average price of $24.04 and a 200 day moving average price of $22.12. The firm has a market cap of $9.34 billion, a PE ratio of 16.786 and a beta of 0.71.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. Hanesbrands’s revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that Hanesbrands Inc. will post $1.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.34%. Hanesbrands’s dividend payout ratio (DPR) is currently 39.47%.
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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