PNC Financial Services Group Inc. increased its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 3.5% in the first quarter, HoldingsChannel.com reports. The firm owned 145,850 shares of the textile maker’s stock after buying an additional 4,998 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hanesbrands were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Advisor Group Inc. lifted its stake in shares of Hanesbrands by 7.4% in the 1st quarter. Advisor Group Inc. now owns 100,191 shares of the textile maker’s stock worth $1,793,000 after acquiring an additional 6,875 shares during the period. California State Teachers Retirement System lifted its stake in shares of Hanesbrands by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 588,120 shares of the textile maker’s stock worth $10,516,000 after acquiring an additional 3,108 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Hanesbrands by 18.2% in the first quarter. Parametric Portfolio Associates LLC now owns 681,895 shares of the textile maker’s stock valued at $12,192,000 after purchasing an additional 104,801 shares during the period. IFG Advisory LLC lifted its stake in shares of Hanesbrands by 10.2% in the first quarter. IFG Advisory LLC now owns 12,778 shares of the textile maker’s stock valued at $228,000 after purchasing an additional 1,181 shares during the period. Finally, Rational Advisors LLC lifted its stake in shares of Hanesbrands by 254.6% in the first quarter. Rational Advisors LLC now owns 1,585 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 1,138 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.
NYSE:HBI opened at $16.07 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.66 and a debt-to-equity ratio of 3.84. Hanesbrands Inc. has a twelve month low of $11.57 and a twelve month high of $22.57. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, May 2nd. The textile maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. Hanesbrands had a net margin of 7.99% and a return on equity of 69.68%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, research analysts forecast that Hanesbrands Inc. will post 1.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.73%. Hanesbrands’s dividend payout ratio is presently 35.09%.
In related news, CFO Barry Hytinen bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $17.56 per share, with a total value of $175,600.00. Following the completion of the transaction, the chief financial officer now owns 176,312 shares of the company’s stock, valued at $3,096,038.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.04% of the stock is currently owned by company insiders.
Separately, Zacks Investment Research cut shares of Hanesbrands from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Hanesbrands currently has an average rating of “Hold” and a consensus target price of $18.83.
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.
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