Comerica Bank Acquires 38,664 Shares of Hanesbrands Inc. (NYSE:HBI)

Comerica Bank grew its holdings in shares of Hanesbrands Inc. (NYSE:HBIGet Rating) by 18.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 247,818 shares of the textile maker’s stock after buying an additional 38,664 shares during the quarter. Comerica Bank’s holdings in Hanesbrands were worth $1,787,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cooke & Bieler LP grew its position in Hanesbrands by 55.0% in the 2nd quarter. Cooke & Bieler LP now owns 20,283,808 shares of the textile maker’s stock valued at $208,721,000 after acquiring an additional 7,195,851 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Hanesbrands by 176.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,175,319 shares of the textile maker’s stock worth $47,281,000 after purchasing an additional 2,025,040 shares during the last quarter. GW Henssler & Associates Ltd. bought a new position in shares of Hanesbrands in the second quarter worth about $19,073,000. Shapiro Capital Management LLC grew its holdings in shares of Hanesbrands by 9.8% in the first quarter. Shapiro Capital Management LLC now owns 15,351,432 shares of the textile maker’s stock worth $228,583,000 after purchasing an additional 1,371,689 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Hanesbrands by 2.7% in the 1st quarter. BlackRock Inc. now owns 37,582,047 shares of the textile maker’s stock worth $559,599,000 after acquiring an additional 997,840 shares in the last quarter. Institutional investors own 81.87% of the company’s stock.

Hanesbrands Stock Up 0.6 %

NYSE:HBI opened at $8.00 on Friday. Hanesbrands Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $16.75. The stock has a market capitalization of $2.79 billion, a P/E ratio of 8.00 and a beta of 1.46. The company has a debt-to-equity ratio of 5.42, a quick ratio of 0.68 and a current ratio of 1.71. The company’s 50-day simple moving average is $6.82 and its 200-day simple moving average is $8.24.

Hanesbrands (NYSE:HBIGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The textile maker reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Hanesbrands had a net margin of 5.39% and a return on equity of 66.07%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. On average, equities analysts anticipate that Hanesbrands Inc. will post 0.98 earnings per share for the current fiscal year.

Hanesbrands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Tuesday, November 22nd were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.50%. Hanesbrands’s payout ratio is 60.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company downgraded shares of Hanesbrands from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $13.00 to $5.00 in a research note on Monday, October 31st. Citigroup dropped their price objective on Hanesbrands from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Sunday, November 6th. StockNews.com raised Hanesbrands from a “sell” rating to a “hold” rating in a research report on Friday, January 13th. Barclays increased their price target on Hanesbrands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, January 13th. Finally, Credit Suisse Group cut shares of 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 report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.

Further Reading

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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