Logan Capital Management Inc. Buys 278,946 Shares of Hanesbrands Inc. (HBI)
Logan Capital Management Inc. lifted its stake in Hanesbrands Inc. (NYSE:HBI) by 173.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,942 shares of the textile maker’s stock after buying an additional 278,946 shares during the quarter. Logan Capital Management Inc. owned about 0.12% of Hanesbrands worth $10,189,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Hanesbrands by 3,104.9% during the 1st quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after acquiring an additional 22,162,112 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Hanesbrands by 19.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock worth $330,846,000 after acquiring an additional 2,544,916 shares in the last quarter. Sasco Capital Inc. CT purchased a new stake in Hanesbrands in the 2nd quarter worth approximately $57,945,000. Morningstar Investment Services LLC increased its holdings in Hanesbrands by 360.9% in the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock worth $70,269,000 after acquiring an additional 2,375,811 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in Hanesbrands by 94.1% in the 1st quarter. OppenheimerFunds Inc. now owns 4,649,535 shares of the textile maker’s stock worth $96,524,000 after acquiring an additional 2,254,460 shares in the last quarter. 94.29% of the stock is currently owned by hedge funds and other institutional investors.
HBI has been the topic of several analyst reports. Credit Suisse Group set a $28.00 price target on shares of Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. BidaskClub raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Vetr cut shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective for the company. in a research note on Monday, August 28th. UBS AG restated a “buy” rating and set a $27.00 price objective (up from $25.00) on shares of Hanesbrands in a research report on Tuesday, August 8th. Finally, ValuEngine downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Hanesbrands currently has an average rating of “Hold” and an average target price of $27.27.
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In other news, CEO Gerald Evans sold 43,379 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the completion of the sale, the chief executive officer now directly owns 1,056,314 shares in the company, valued at $24,485,358.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Marsh sold 10,325 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the sale, the insider now owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The disclosure for this sale can be found here. Insiders sold a total of 73,704 shares of company stock worth $1,737,713 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Hanesbrands Inc. (HBI) traded up 0.4643% during trading on Monday, reaching $24.7544. The company’s stock had a trading volume of 1,011,064 shares. The stock has a 50-day moving average of $24.37 and a 200 day moving average of $22.33. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $27.07. The firm has a market capitalization of $9.02 billion, a P/E ratio of 16.2218 and a beta of 0.72.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts predict that Hanesbrands Inc. will post $1.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.44%. Hanesbrands’s payout ratio is currently 39.47%.
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.
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