Allianz Asset Management AG raised its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,867 shares of the textile maker’s stock after buying an additional 1,404 shares during the period. Allianz Asset Management AG’s holdings in Hanesbrands were worth $471,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in HBI. Global X Management Co. LLC boosted its stake in shares of Hanesbrands by 98.3% in the third quarter. Global X Management Co. LLC now owns 4,030 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,998 shares during the period. Kernodle & Katon Asset Management Group LLC bought a new stake in shares of Hanesbrands during the third quarter valued at $114,000. Van ECK Associates Corp bought a new stake in shares of Hanesbrands during the fourth quarter valued at $120,000. MSI Financial Services Inc boosted its stake in shares of Hanesbrands by 19.0% in the third quarter. MSI Financial Services Inc now owns 5,235 shares of the textile maker’s stock valued at $132,000 after buying an additional 836 shares during the last quarter. Finally, First Bank & Trust bought a new stake in shares of Hanesbrands during the fourth quarter valued at $196,000. Institutional investors and hedge funds own 96.30% of the company’s stock.
Hanesbrands Inc. (NYSE:HBI) traded down 2.03% during mid-day trading on Friday, reaching $21.69. The company’s stock had a trading volume of 3,540,267 shares. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $30.42. The company’s 50-day moving average price is $20.61 and its 200 day moving average price is $22.41. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.43 and a beta of 0.90.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.05. Hanesbrands had a return on equity of 64.51% and a net margin of 8.95%. The business earned $1.58 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that Hanesbrands Inc. will post $1.97 earnings per share for the current fiscal year.
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Several brokerages have weighed in on HBI. DA Davidson set a $27.00 price objective on Hanesbrands and gave the stock a “buy” rating in a research note on Saturday, April 8th. FBR & Co reissued a “buy” rating on shares of Hanesbrands in a research note on Saturday, April 15th. Vetr cut Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $23.91 price objective on the stock. in a research note on Wednesday. Oppenheimer Holdings Inc. set a $32.00 target price on Hanesbrands and gave the company a “buy” rating in a research report on Wednesday, April 12th. Finally, Zacks Investment Research upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Hanesbrands has a consensus rating of “Buy” and a consensus price target of $28.58.
In related news, Director Ronald L. Nelson bought 5,000 shares of the stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $19.92 per share, with a total value of $99,600.00. Following the purchase, the director now owns 105,652 shares in the company, valued at $2,104,587.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerald Evans sold 41,033 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $20.26, for a total transaction of $831,328.58. Following the transaction, the chief executive officer now directly owns 1,061,098 shares in the company, valued at approximately $21,497,845.48. The disclosure for this sale can be found here. Company insiders own 1.00% 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.
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