Grimes & Company Inc. reduced its stake in Hanesbrands Inc. (NYSE:HBI) by 92.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,770 shares of the textile maker’s stock after selling 151,155 shares during the period. Grimes & Company Inc.’s holdings in Hanesbrands were worth $228,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. PenderFund Capital Management Ltd. grew its stake in Hanesbrands by 2.3% in the 4th quarter. PenderFund Capital Management Ltd. now owns 344,000 shares of the textile maker’s stock worth $6,769,000 after acquiring an additional 7,754 shares in the last quarter. Ridgewood Investments LLC boosted its stake in shares of Hanesbrands by 13.1% during the first quarter. Ridgewood Investments LLC now owns 20,536 shares of the textile maker’s stock valued at $367,000 after purchasing an additional 2,379 shares in the last quarter. Pinkerton Retirement Specialists LLC boosted its stake in shares of Hanesbrands by 0.8% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 109,313 shares of the textile maker’s stock valued at $1,370,000 after purchasing an additional 911 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in shares of Hanesbrands by 5.7% during the fourth quarter. Shapiro Capital Management LLC now owns 14,487,327 shares of the textile maker’s stock valued at $181,526,000 after purchasing an additional 786,671 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Hanesbrands during the fourth quarter valued at approximately $234,000. Institutional investors and hedge funds own 96.38% of the company’s stock.
NYSE:HBI opened at $17.52 on Thursday. Hanesbrands Inc. has a 52 week low of $11.57 and a 52 week high of $22.57. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.66 and a quick ratio of 0.64. The company has a market cap of $6.35 billion, a P/E ratio of 10.25, a PEG ratio of 1.01 and a beta of 0.93.
Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 2nd. The textile maker reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Hanesbrands had a net margin of 7.99% and a return on equity of 69.68%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. Hanesbrands’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Hanesbrands Inc. will post 1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.42%. Hanesbrands’s payout ratio is 35.09%.
A number of equities analysts have recently issued reports on HBI shares. Deutsche Bank downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $24.00 to $16.00 in a research note on Friday, January 11th. Barclays set a $16.00 price objective on shares of Hanesbrands and gave the company a “hold” rating in a research note on Friday, January 11th. Zacks Investment Research downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Finally, ValuEngine upgraded shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a research note on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $19.69.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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