Hanesbrands Inc. (HBI) Shares Bought by Freestone Capital Holdings LLC
Freestone Capital Holdings LLC raised its position in Hanesbrands Inc. (NYSE:HBI) by 14.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,729 shares of the textile maker’s stock after purchasing an additional 22,190 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Hanesbrands were worth $4,186,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after purchasing an additional 2,158,679 shares during the period. Park Avenue Institutional Advisers LLC purchased a new stake in Hanesbrands in the first quarter valued at approximately $534,000. BB&T Corp raised its position in Hanesbrands by 3.2% in the second quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock valued at $12,995,000 after purchasing an additional 17,312 shares during the period. Canada Pension Plan Investment Board raised its position in Hanesbrands by 706.7% in the first quarter. Canada Pension Plan Investment Board now owns 56,619 shares of the textile maker’s stock valued at $1,175,000 after purchasing an additional 49,600 shares during the period. Finally, Morgan Stanley raised its position in Hanesbrands by 21.2% in the first quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock valued at $83,228,000 after purchasing an additional 701,732 shares during the period. 94.35% of the stock is currently owned by institutional investors.
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In other Hanesbrands news, insider John T. Marsh sold 11,100 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the transaction, the insider now directly owns 579,663 shares of the company’s stock, valued at $13,274,282.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,654 shares of company stock valued at $3,267,205. Company insiders own 1.10% of the company’s stock.
A number of analysts have issued reports on HBI shares. Credit Suisse Group set a $28.00 target price on Hanesbrands and gave the company a “buy” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. UBS AG restated a “buy” rating and issued a $27.00 price target (up previously from $25.00) on shares of Hanesbrands in a research note on Tuesday, August 8th. Vetr upgraded shares of Hanesbrands from a “buy” rating to a “strong-buy” rating and set a $26.36 price target for the company in a research note on Monday, August 21st. Finally, ValuEngine downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Hanesbrands has a consensus rating of “Buy” and an average price target of $27.18.
Hanesbrands Inc. (NYSE:HBI) opened at 25.23 on Thursday. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $27.07. The firm has a market cap of $9.20 billion, a P/E ratio of 16.53 and a beta of 0.71. The company’s 50 day moving average is $23.88 and its 200-day moving average is $22.03.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Equities analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, August 11th. Hanesbrands’s payout ratio is 39.47%.
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.
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