Allspring Global Investments Holdings LLC Reduces Stock Position in Hanesbrands Inc. (NYSE:HBI)

Allspring Global Investments Holdings LLC reduced its position in shares of Hanesbrands Inc. (NYSE:HBIGet Rating) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 311,988 shares of the textile maker’s stock after selling 11,689 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hanesbrands were worth $2,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA purchased a new stake in Hanesbrands in the second quarter worth about $36,000. SeaCrest Wealth Management LLC purchased a new stake in Hanesbrands in the second quarter worth about $45,000. Meeder Asset Management Inc. lifted its holdings in Hanesbrands by 180.8% in the second quarter. Meeder Asset Management Inc. now owns 5,659 shares of the textile maker’s stock worth $58,000 after buying an additional 3,644 shares during the period. CX Institutional purchased a new stake in Hanesbrands in the second quarter worth about $60,000. Finally, Investors Research Corp lifted its holdings in Hanesbrands by 90.9% in the second quarter. Investors Research Corp now owns 6,300 shares of the textile maker’s stock worth $65,000 after buying an additional 3,000 shares during the period. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

Hanesbrands Price Performance

Shares of HBI opened at $7.95 on Friday. The company has a market capitalization of $2.77 billion, a P/E ratio of 7.95 and a beta of 1.46. The company has a quick ratio of 0.68, a current ratio of 1.71 and a debt-to-equity ratio of 5.42. The firm has a 50 day moving average of $6.81 and a 200 day moving average of $8.26. Hanesbrands Inc. has a twelve month low of $5.65 and a twelve month high of $16.75.

Hanesbrands (NYSE:HBIGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The textile maker reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. The company 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%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts anticipate that Hanesbrands Inc. will post 0.98 earnings per share for the current fiscal year.

Hanesbrands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Shareholders of record on Tuesday, November 22nd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date of this dividend was Monday, November 21st. Hanesbrands’s dividend payout ratio (DPR) is presently 60.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Credit Suisse Group lowered shares of Hanesbrands from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $7.00 in a report on Wednesday, November 9th. Wells Fargo & Company lowered shares of Hanesbrands from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $13.00 to $5.00 in a report on Monday, October 31st. Citigroup lowered their target price on shares of Hanesbrands from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Sunday, November 6th. Barclays lifted their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Friday, January 13th. Finally, StockNews.com upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a report on Friday, January 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.10.

Hanesbrands Profile

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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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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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