Hanesbrands Inc. (HBI) Stake Lowered by KBC Group NV

KBC Group NV reduced its holdings in Hanesbrands Inc. (NYSE:HBI) by 54.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,505 shares of the textile maker’s stock after selling 269,331 shares during the quarter. KBC Group NV owned approximately 0.06% of Hanesbrands worth $5,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Hanesbrands by 33.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 192,393 shares of the textile maker’s stock worth $4,456,000 after purchasing an additional 48,366 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Hanesbrands by 87.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 22,680 shares of the textile maker’s stock worth $525,000 after purchasing an additional 10,580 shares during the last quarter. NGAM Advisors L.P. raised its position in Hanesbrands by 7.6% in the 2nd quarter. NGAM Advisors L.P. now owns 123,951 shares of the textile maker’s stock worth $2,871,000 after purchasing an additional 8,737 shares during the last quarter. CIBC Asset Management Inc raised its position in Hanesbrands by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 36,700 shares of the textile maker’s stock worth $850,000 after purchasing an additional 106 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Hanesbrands by 30.0% in the 2nd quarter. IFP Advisors Inc now owns 12,723 shares of the textile maker’s stock worth $295,000 after purchasing an additional 2,934 shares during the last quarter. 96.92% of the stock is currently owned by institutional investors and hedge funds.

HBI has been the subject of several recent research reports. B. Riley reiterated a “buy” rating on shares of Hanesbrands in a research report on Thursday, November 2nd. Barclays dropped their target price on shares of Hanesbrands from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. BidaskClub upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Morgan Stanley dropped their target price on shares of Hanesbrands from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Finally, Vetr cut shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 target price for the company. in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. Hanesbrands has a consensus rating of “Hold” and an average target price of $26.13.

Shares of Hanesbrands Inc. (NYSE:HBI) traded down $0.14 during midday trading on Thursday, reaching $20.54. 8,306,100 shares of the company were exchanged, compared to its average volume of 5,280,435. The firm has a market cap of $7,539.60, a price-to-earnings ratio of 10.60, a PEG ratio of 1.18 and a beta of 0.70. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.85 and a current ratio of 1.88. Hanesbrands Inc. has a 12-month low of $18.90 and a 12-month high of $25.73.

Hanesbrands (NYSE:HBI) last announced its earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. analysts expect that Hanesbrands Inc. will post 1.94 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Monday, November 13th. Hanesbrands’s payout ratio is presently 37.04%.

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About Hanesbrands

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.

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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