19,668 Shares in Hanesbrands Inc. (HBI) Purchased by Belpointe Asset Management LLC
Belpointe Asset Management LLC acquired a new position in Hanesbrands Inc. (NYSE:HBI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,668 shares of the textile maker’s stock, valued at approximately $485,000.
Several other institutional investors have also recently modified their holdings of HBI. Freestone Capital Holdings LLC grew its position in Hanesbrands by 14.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock worth $4,186,000 after purchasing an additional 22,190 shares during the last quarter. HAP Trading LLC grew its position in Hanesbrands by 180.8% during the 3rd quarter. HAP Trading LLC now owns 12,934 shares of the textile maker’s stock worth $319,000 after purchasing an additional 28,934 shares during the last quarter. Northern Capital Management LLC purchased a new stake in Hanesbrands during the 3rd quarter worth approximately $3,816,000. Victory Capital Management Inc. grew its position in Hanesbrands by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 698,044 shares of the textile maker’s stock worth $17,199,000 after purchasing an additional 30,202 shares during the last quarter. Finally, Tradition Capital Management LLC grew its position in Hanesbrands by 21.8% during the 2nd quarter. Tradition Capital Management LLC now owns 249,960 shares of the textile maker’s stock worth $5,789,000 after purchasing an additional 44,785 shares during the last quarter. 96.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hanesbrands Inc. (NYSE:HBI) traded up $0.02 during midday trading on Friday, reaching $21.26. 5,703,700 shares of the company’s stock traded hands, compared to its average volume of 5,294,181. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.85 and a current ratio of 1.88. Hanesbrands Inc. has a twelve month low of $18.90 and a twelve month high of $25.73. The firm has a market cap of $7,743.77, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.22 and a beta of 0.70.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Wednesday, November 1st. The textile maker reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. sell-side analysts forecast that Hanesbrands Inc. will post 1.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.82%. The ex-dividend date was Monday, November 13th. Hanesbrands’s payout ratio is 37.04%.
HBI has been the topic of several research analyst reports. Deutsche Bank initiated coverage on shares of Hanesbrands in a research report on Monday, October 23rd. They set a “buy” rating and a $29.00 target price on the stock. ValuEngine downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. B. Riley reissued a “buy” rating on shares of Hanesbrands in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $23.00 target price on shares of Hanesbrands in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $26.13.
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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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