Financial Advantage Inc. purchased a new stake in shares of Hanesbrands (NYSE:HBI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 161,130 shares of the textile maker’s stock, valued at approximately $2,968,000. Hanesbrands makes up 2.4% of Financial Advantage Inc.’s investment portfolio, making the stock its 22nd biggest position.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors bought a new stake in shares of Hanesbrands in the 1st quarter worth $103,000. Global Trust Asset Management LLC bought a new stake in shares of Hanesbrands in the 4th quarter worth $134,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Hanesbrands in the 4th quarter worth $134,000. PenderFund Capital Management Ltd. bought a new stake in shares of Hanesbrands in the 1st quarter worth $140,000. Finally, Calton & Associates Inc. bought a new stake in shares of Hanesbrands in the 4th quarter worth $202,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Several research firms have recently issued reports on HBI. Barclays reduced their target price on shares of Hanesbrands from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. B. Riley set a $30.00 target price on shares of Hanesbrands and gave the stock a “buy” rating in a research note on Monday, May 14th. ValuEngine lowered shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. DA Davidson reiterated a “buy” rating and issued a $29.00 target price on shares of Hanesbrands in a research note on Monday, May 7th. Finally, Citigroup reduced their target price on shares of Hanesbrands from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.22.
In other Hanesbrands news, Director David V. Singer acquired 31,230 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were acquired at an average cost of $17.72 per share, with a total value of $553,395.60. Following the completion of the acquisition, the director now directly owns 26,880 shares in the company, valued at $476,313.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Barry Hytinen acquired 21,890 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were acquired at an average cost of $17.47 per share, for a total transaction of $382,418.30. Following the completion of the acquisition, the chief financial officer now owns 93,867 shares of the company’s stock, valued at $1,639,856.49. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 70,620 shares of company stock worth $1,244,864. Insiders own 1.06% of the company’s stock.
Hanesbrands opened at $18.12 on Thursday, according to Marketbeat. The stock has a market cap of $6.57 billion, a P/E ratio of 9.39, a P/E/G ratio of 1.38 and a beta of 0.72. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.03 and a quick ratio of 0.81. Hanesbrands has a fifty-two week low of $16.38 and a fifty-two week high of $25.73.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Tuesday, May 1st. The textile maker reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. Hanesbrands had a net margin of 1.08% and a return on equity of 75.80%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. analysts predict that Hanesbrands will post 1.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Tuesday, May 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.31%. The ex-dividend date is Monday, May 14th. Hanesbrands’s dividend payout ratio (DPR) is presently 31.09%.
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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