Municipal Employees Retirement System of Michigan Has $251,000 Position in Hanesbrands Inc. (NYSE:HBI)
Municipal Employees Retirement System of Michigan continued to hold its stake in shares of Hanesbrands Inc. (NYSE:HBI) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,100 shares of the textile maker’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Hanesbrands were worth $251,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in HBI. Strs Ohio raised its stake in Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock valued at $10,026,000 after buying an additional 3,571 shares in the last quarter. M. Kraus & Co bought a new position in shares of Hanesbrands during the first quarter worth approximately $2,537,000. Farmers & Merchants Investments Inc. increased its position in shares of Hanesbrands by 104.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 177,162 shares of the textile maker’s stock worth $3,678,000 after buying an additional 90,511 shares during the last quarter. Allianz Asset Management AG increased its position in shares of Hanesbrands by 6.9% in the fourth quarter. Allianz Asset Management AG now owns 21,867 shares of the textile maker’s stock worth $471,000 after buying an additional 1,404 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Hanesbrands by 41.3% in the first quarter. Bank of Montreal Can now owns 375,297 shares of the textile maker’s stock worth $7,790,000 after buying an additional 109,679 shares during the last quarter. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
Hanesbrands Inc. (HBI) traded up 1.89% during mid-day trading on Friday, reaching $24.29. The company’s stock had a trading volume of 6,537,460 shares. The company has a 50 day moving average of $22.90 and a 200-day moving average of $21.59. Hanesbrands Inc. has a 52-week low of $18.91 and a 52-week high of $28.24. The stock has a market cap of $8.89 billion, a PE ratio of 15.92 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Equities analysts forecast that Hanesbrands Inc. will post $1.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
HBI has been the subject of several recent analyst reports. Zacks Investment Research raised Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Credit Suisse Group set a $28.00 price objective on Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. BidaskClub upgraded Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Oppenheimer Holdings, Inc. set a $32.00 price objective on Hanesbrands and gave the company a “buy” rating in a report on Wednesday, April 12th. Finally, Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $23.91 target price for the company. in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Hanesbrands currently has an average rating of “Buy” and a consensus price target of $28.08.
In other news, insider W Howard Upchurch, Jr. sold 55,850 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $22.90, for a total value of $1,278,965.00. Following the transaction, the insider now owns 579,663 shares in the company, valued at $13,274,282.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John T. Marsh sold 11,100 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,438 shares of company stock worth $3,450,467. Corporate insiders own 1.10% of the company’s stock.
Hanesbrands Company Profile
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
Receive News & Stock Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related stocks with our FREE daily email newsletter.