Neo Ivy Capital Management Boosts Position in Hanesbrands Inc. (NYSE:HBI)
Neo Ivy Capital Management lifted its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 170.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,980 shares of the textile maker’s stock after acquiring an additional 29,605 shares during the period. Neo Ivy Capital Management’s holdings in Hanesbrands were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of HBI. Renaissance Technologies LLC acquired a new position in Hanesbrands in the fourth quarter valued at approximately $30,872,000. FMR LLC lifted its stake in Hanesbrands by 607.6% in the fourth quarter. FMR LLC now owns 1,427,118 shares of the textile maker’s stock valued at $21,193,000 after buying an additional 1,225,427 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Hanesbrands by 270.4% in the third quarter. Squarepoint Ops LLC now owns 1,560,011 shares of the textile maker’s stock valued at $23,899,000 after buying an additional 1,138,805 shares during the last quarter. Country Trust Bank purchased a new stake in Hanesbrands in the fourth quarter valued at approximately $13,860,000. Finally, State Street Corp lifted its stake in Hanesbrands by 3.4% in the fourth quarter. State Street Corp now owns 21,398,663 shares of the textile maker’s stock valued at $317,770,000 after buying an additional 697,808 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.
Hanesbrands stock traded up $0.05 during trading hours on Tuesday, hitting $11.31. The stock had a trading volume of 436,787 shares, compared to its average volume of 8,884,498. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.82 and a quick ratio of 0.74. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 2.08 and a beta of 0.99. Hanesbrands Inc. has a 1-year low of $10.81 and a 1-year high of $19.10. The stock’s fifty day moving average is $13.79 and its two-hundred day moving average is $14.60.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Friday, February 7th. The textile maker reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Hanesbrands had a return on equity of 55.80% and a net margin of 8.70%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Hanesbrands Inc. will post 1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date is Friday, February 14th. Hanesbrands’s payout ratio is currently 34.09%.
A number of brokerages have weighed in on HBI. B. Riley reduced their price objective on Hanesbrands from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Bank of America cut Hanesbrands from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $16.00 to $13.00 in a research note on Friday, December 13th. Barclays assumed coverage on Hanesbrands in a research note on Tuesday, November 12th. They set an “equal weight” rating and a $16.00 price target for the company. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of Hanesbrands in a research note on Monday, February 10th. Finally, ValuEngine cut Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.13.
Hanesbrands Profile
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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