Beacon Financial Group Sells 103,940 Shares of Hanesbrands Inc. (HBI)
Beacon Financial Group trimmed its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,332 shares of the textile maker’s stock after selling 103,940 shares during the quarter. Beacon Financial Group owned 0.09% of Hanesbrands worth $6,698,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Freestone Capital Holdings LLC raised its position in shares of Hanesbrands by 14.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock valued at $4,186,000 after buying an additional 22,190 shares in the last quarter. HAP Trading LLC raised its position in shares of Hanesbrands by 180.8% during the 3rd quarter. HAP Trading LLC now owns 12,934 shares of the textile maker’s stock valued at $319,000 after buying an additional 28,934 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Hanesbrands by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 698,044 shares of the textile maker’s stock valued at $17,199,000 after purchasing an additional 30,202 shares during the last quarter. Northern Capital Management LLC bought a new position in Hanesbrands during the 3rd quarter valued at about $3,816,000. Finally, Guardian Capital LP bought a new position in Hanesbrands during the 3rd quarter valued at about $9,494,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.
HBI has been the topic of several analyst reports. Nomura cut their price target on shares of Hanesbrands from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Oppenheimer reiterated a “buy” rating on shares of Hanesbrands in a report on Wednesday, October 18th. B. Riley reiterated a “buy” rating on shares of Hanesbrands in a report on Thursday, November 2nd. Wells Fargo & Co downgraded shares of Hanesbrands from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a report on Wednesday, October 25th. Finally, Citigroup reiterated a “neutral” rating and set a $23.00 price target on shares of Hanesbrands in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.97.
Shares of Hanesbrands Inc. (NYSE:HBI) traded up $0.39 during mid-day trading on Wednesday, reaching $21.30. 4,906,800 shares of the company’s stock were exchanged, compared to its average volume of 4,220,450. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.88 and a quick ratio of 0.85. The company has a market cap of $7,710.00, a P/E ratio of 13.15, a P/E/G ratio of 1.12 and a beta of 0.72. Hanesbrands Inc. has a twelve month low of $18.90 and a twelve month high of $25.73.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. analysts expect that Hanesbrands Inc. will post 1.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th were given a $0.15 dividend. The ex-dividend date was Monday, November 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.82%. Hanesbrands’s payout ratio is presently 37.04%.
Hanesbrands Company Profile
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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