State of Alaska Department of Revenue Sells 1,710 Shares of Hanesbrands Inc. (NYSE:HBI)

State of Alaska Department of Revenue decreased its position in Hanesbrands Inc. (NYSE:HBIGet Rating) by 3.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,407 shares of the textile maker’s stock after selling 1,710 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hanesbrands were worth $336,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA bought a new position in Hanesbrands in the second quarter valued at about $36,000. SeaCrest Wealth Management LLC bought a new position in Hanesbrands in the second quarter valued at about $45,000. Canada Pension Plan Investment Board lifted its holdings in Hanesbrands by 41.9% in the first quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker’s stock valued at $74,000 after acquiring an additional 1,480 shares during the period. Meeder Asset Management Inc. lifted its holdings in Hanesbrands by 180.8% in the second quarter. Meeder Asset Management Inc. now owns 5,659 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 3,644 shares during the period. Finally, CX Institutional bought a new position in Hanesbrands in the second quarter valued at about $60,000. Institutional investors own 81.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup reduced their price target on Hanesbrands from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Sunday, November 6th. Credit Suisse Group cut Hanesbrands from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $7.00 in a research report on Wednesday, November 9th. StockNews.com upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research report on Friday. Barclays upped their price target on Hanesbrands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wells Fargo & Company cut Hanesbrands from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $13.00 to $5.00 in a research report on Monday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.10.

Hanesbrands Price Performance

Shares of Hanesbrands stock opened at $8.12 on Friday. The stock has a 50 day moving average of $6.71 and a 200 day moving average of $8.31. Hanesbrands Inc. has a 12 month low of $5.65 and a 12 month high of $16.98. The firm has a market cap of $2.83 billion, a PE ratio of 8.12 and a beta of 1.46. The company has a current ratio of 1.71, a quick ratio of 0.68 and a debt-to-equity ratio of 5.42.

Hanesbrands (NYSE:HBIGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The textile maker reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Hanesbrands had a return on equity of 66.07% and a net margin of 5.39%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Hanesbrands Inc. will post 0.97 EPS for the current fiscal year.

Hanesbrands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 13th. Investors of record on Tuesday, November 22nd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date was Monday, November 21st. Hanesbrands’s payout ratio is presently 60.00%.

Hanesbrands Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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