Principal Financial Group Inc. Reduces Stake in Hanesbrands Inc. (HBI)
Principal Financial Group Inc. reduced its position in Hanesbrands Inc. (NYSE:HBI) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 566,196 shares of the textile maker’s stock after selling 11,308 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Hanesbrands worth $13,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in HBI. BlackRock Inc. lifted its position in Hanesbrands by 0.8% during the second quarter. BlackRock Inc. now owns 23,050,392 shares of the textile maker’s stock valued at $533,848,000 after purchasing an additional 174,498 shares in the last quarter. State Street Corp lifted its position in Hanesbrands by 0.9% during the second quarter. State Street Corp now owns 15,512,816 shares of the textile maker’s stock valued at $359,281,000 after purchasing an additional 136,465 shares in the last quarter. Bessemer Group Inc. lifted its position in Hanesbrands by 43.5% during the second quarter. Bessemer Group Inc. now owns 5,808,161 shares of the textile maker’s stock valued at $134,518,000 after purchasing an additional 1,760,614 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Hanesbrands by 1.2% during the second quarter. TimesSquare Capital Management LLC now owns 3,129,600 shares of the textile maker’s stock valued at $72,482,000 after purchasing an additional 37,350 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its position in Hanesbrands by 360.9% during the second quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock valued at $70,269,000 after purchasing an additional 2,375,811 shares in the last quarter. Hedge funds and other institutional investors own 96.92% of the company’s stock.
Several equities analysts recently weighed in on HBI shares. B. Riley reiterated a “buy” rating on shares of Hanesbrands in a research report on Thursday, November 2nd. Barclays lowered their target price on Hanesbrands from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Morgan Stanley decreased their price target on Hanesbrands from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. 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 report on Monday, August 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.13.
Shares of Hanesbrands Inc. (NYSE HBI) traded up $0.50 during mid-day trading on Thursday, hitting $20.81. The stock had a trading volume of 1,780,194 shares, compared to its average volume of 5,178,553. Hanesbrands Inc. has a 1 year low of $18.90 and a 1 year high of $25.73. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $7,200.54, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.13 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last issued its earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Hanesbrands had a return on equity of 64.73% and a net margin of 9.43%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. research analysts forecast that Hanesbrands Inc. will post 1.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.60 annualized dividend and a yield of 2.88%. Hanesbrands’s dividend payout ratio is currently 37.04%.
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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