Municipal Employees Retirement System of Michigan lessened its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 11.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the textile maker’s stock after selling 2,680 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Hanesbrands were worth $493,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Morningstar Investment Services LLC raised its holdings in Hanesbrands by 360.9% during the second quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock worth $70,269,000 after buying an additional 2,375,811 shares during the last quarter. Sabal Trust CO acquired a new position in Hanesbrands during the third quarter worth $25,479,000. USS Investment Management Ltd acquired a new position in Hanesbrands during the second quarter worth $20,937,000. WBI Investments Inc. acquired a new position in Hanesbrands during the second quarter worth $15,165,000. Finally, Victory Capital Management Inc. raised its holdings in Hanesbrands by 1,283.2% during the second quarter. Victory Capital Management Inc. now owns 667,842 shares of the textile maker’s stock worth $15,467,000 after buying an additional 619,561 shares during the last quarter. Institutional investors own 96.92% of the company’s stock.
HBI has been the topic of several research reports. Nomura lowered their price objective on shares of Hanesbrands from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Cowen set a $22.00 price objective on shares of Hanesbrands and gave the stock a “hold” rating in a report on Thursday, August 24th. Oppenheimer restated a “buy” rating on shares of Hanesbrands in a report on Wednesday, October 18th. B. Riley restated a “buy” rating on shares of Hanesbrands in a report on Thursday, November 2nd. Finally, Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.13.
Hanesbrands (NYSE:HBI) last posted its earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. equities analysts forecast that Hanesbrands Inc. will post 1.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.90%. Hanesbrands’s payout ratio is 37.04%.
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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