Hanesbrands Inc. (HBI) Stake Boosted by Synovus Financial Corp
Synovus Financial Corp lifted its holdings in Hanesbrands Inc. (NYSE:HBI) by 25.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,617 shares of the textile maker’s stock after purchasing an additional 11,542 shares during the period. Synovus Financial Corp’s holdings in Hanesbrands were worth $1,394,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC boosted its holdings in Hanesbrands by 14.0% during the second quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock valued at $4,186,000 after purchasing an additional 22,190 shares in the last quarter. HAP Trading LLC boosted its holdings in shares of Hanesbrands by 180.8% in the 3rd quarter. HAP Trading LLC now owns 12,934 shares of the textile maker’s stock worth $319,000 after acquiring an additional 28,934 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Hanesbrands by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 698,044 shares of the textile maker’s stock worth $17,199,000 after acquiring an additional 30,202 shares in the last quarter. Northern Capital Management LLC bought a new position in Hanesbrands in the 3rd quarter worth approximately $3,816,000. Finally, Tradition Capital Management LLC raised its position in Hanesbrands by 21.8% in the 2nd quarter. Tradition Capital Management LLC now owns 249,960 shares of the textile maker’s stock worth $5,789,000 after purchasing an additional 44,785 shares during the last quarter. 96.92% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the stock. Deutsche Bank assumed coverage on shares of Hanesbrands in a research report on Monday, October 23rd. They issued a “buy” rating and a $29.00 price objective for the company. Zacks Investment Research upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, October 9th. Stifel Nicolaus restated a “hold” rating and issued a $23.00 price objective on shares of Hanesbrands in a research report on Tuesday, September 26th. Instinet cut shares of Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research report on Thursday, September 21st. Finally, TheStreet cut shares of Hanesbrands from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $26.13.
Hanesbrands Inc. (NYSE:HBI) traded down $0.14 on Thursday, hitting $20.54. 8,306,100 shares of the company were exchanged, compared to its average volume of 5,280,435. 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 1-year low of $18.90 and a 1-year high of $25.73. The company has a market cap of $7,539.60, a PE ratio of 10.60, a P/E/G ratio of 1.18 and a beta of 0.70.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Wednesday, November 1st. The textile maker reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. research analysts predict that Hanesbrands Inc. will post 1.94 earnings per share for the current 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 was Monday, November 13th. Hanesbrands’s payout ratio is presently 37.04%.
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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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