AE Wealth Management LLC increased its position in Hanesbrands Inc. (NYSE:HBI – Get Rating) by 67.6% in the third quarter, HoldingsChannel reports. The firm owned 21,110 shares of the textile maker’s stock after acquiring an additional 8,511 shares during the period. AE Wealth Management LLC’s holdings in Hanesbrands were worth $147,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HBI. Private Trust Co. NA acquired a new stake in shares of Hanesbrands in the second quarter worth $36,000. SeaCrest Wealth Management LLC acquired a new stake in Hanesbrands during the 2nd quarter worth about $45,000. Canada Pension Plan Investment Board grew its stake in Hanesbrands by 41.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker’s stock valued at $74,000 after acquiring an additional 1,480 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Hanesbrands by 180.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,659 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 3,644 shares during the period. Finally, CX Institutional purchased a new stake in shares of Hanesbrands in the second quarter worth approximately $60,000. 81.87% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently commented on HBI shares. Barclays boosted their price objective on shares of Hanesbrands from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, January 13th. Wells Fargo & Company downgraded shares of Hanesbrands from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $13.00 to $5.00 in a research note on Monday, October 31st. Citigroup reduced their price objective on Hanesbrands from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Sunday, November 6th. Credit Suisse Group lowered Hanesbrands from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.00 in a research report on Wednesday, November 9th. Finally, StockNews.com raised Hanesbrands from a “sell” rating to a “hold” rating in a research note on Friday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.10.
Hanesbrands Stock Performance
Hanesbrands (NYSE:HBI – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Hanesbrands had a net margin of 5.39% and a return on equity of 66.07%. Hanesbrands’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities research analysts expect that Hanesbrands Inc. will post 0.98 earnings per share for the current fiscal year.
Hanesbrands Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Shareholders of record on Tuesday, November 22nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date was Monday, November 21st. Hanesbrands’s dividend payout ratio (DPR) is currently 60.00%.
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear, and International.
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