SeaCrest Wealth Management LLC Purchases New Position in Hanesbrands Inc. (NYSE:HBI)

SeaCrest Wealth Management LLC purchased a new stake in shares of Hanesbrands Inc. (NYSE:HBIGet Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,398 shares of the textile maker’s stock, valued at approximately $45,000.

Other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in Hanesbrands by 7.4% during the 1st quarter. New York State Common Retirement Fund now owns 380,056 shares of the textile maker’s stock valued at $5,659,000 after purchasing an additional 26,067 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Hanesbrands in the first quarter worth about $1,299,000. Summit X LLC raised its stake in shares of Hanesbrands by 5.6% in the first quarter. Summit X LLC now owns 119,830 shares of the textile maker’s stock worth $1,780,000 after acquiring an additional 6,301 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Hanesbrands in the first quarter worth about $77,773,000. Finally, Boston Partners raised its stake in shares of Hanesbrands by 2.0% in the first quarter. Boston Partners now owns 1,828,355 shares of the textile maker’s stock worth $27,049,000 after acquiring an additional 35,413 shares during the last quarter. 88.53% of the stock is owned by institutional investors.

Hanesbrands Stock Down 2.7 %

Shares of NYSE HBI opened at $6.81 on Monday. The stock has a market cap of $2.38 billion, a P/E ratio of 6.81 and a beta of 1.49. The firm has a 50 day moving average price of $7.53 and a 200 day moving average price of $9.66. The company has a debt-to-equity ratio of 5.42, a quick ratio of 0.68 and a current ratio of 1.71. Hanesbrands Inc. has a 52-week low of $6.40 and a 52-week high of $17.81.

Hanesbrands (NYSE:HBIGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Hanesbrands had a net margin of 5.39% and a return on equity of 66.07%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Analysts expect that Hanesbrands Inc. will post 0.97 EPS for the current year.

Hanesbrands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Tuesday, November 22nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.81%. The ex-dividend date of this dividend is Monday, November 21st. Hanesbrands’s dividend payout ratio (DPR) is presently 60.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HBI shares. B. Riley dropped their target price on shares of Hanesbrands from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 12th. Credit Suisse Group downgraded shares of Hanesbrands from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.00 in a research note on Wednesday, November 9th. CL King lowered their price target on shares of Hanesbrands from $17.00 to $15.00 in a research report on Friday, August 12th. StockNews.com began coverage on shares of Hanesbrands in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Citigroup lowered their price target on shares of Hanesbrands from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Sunday, November 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

Insider Activity

In related news, insider Tracy M. Preston purchased 3,000 shares of Hanesbrands stock in a transaction dated Monday, September 12th. The stock was bought at an average price of $9.36 per share, for a total transaction of $28,080.00. Following the completion of the acquisition, the insider now directly owns 3,000 shares of the company’s stock, valued at $28,080. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Stephen B. Bratspies purchased 30,000 shares of Hanesbrands stock in a transaction dated Tuesday, September 6th. The stock was bought at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 123,754 shares of the company’s stock, valued at $1,070,472.10. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tracy M. Preston purchased 3,000 shares of Hanesbrands stock in a transaction dated Monday, September 12th. The stock was bought at an average price of $9.36 per share, with a total value of $28,080.00. Following the acquisition, the insider now directly owns 3,000 shares of the company’s stock, valued at $28,080. The disclosure for this purchase can be found here. Insiders purchased 37,000 shares of company stock worth $322,600 over the last quarter. 0.29% of the stock is currently owned by company insiders.

About Hanesbrands

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Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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