TD Asset Management Inc. Has $5.52 Million Stock Position in Hanesbrands Inc. (NYSE:HBI)

TD Asset Management Inc. reduced its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 321,379 shares of the textile maker’s stock after selling 5,731 shares during the period. TD Asset Management Inc.’s holdings in Hanesbrands were worth $5,515,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its position in Hanesbrands by 5.4% in the third quarter. NEXT Financial Group Inc now owns 11,444 shares of the textile maker’s stock valued at $196,000 after purchasing an additional 582 shares during the last quarter. Private Capital Group LLC raised its position in Hanesbrands by 24.8% in the third quarter. Private Capital Group LLC now owns 3,095 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 615 shares during the last quarter. Global Retirement Partners LLC raised its position in Hanesbrands by 2.6% in the third quarter. Global Retirement Partners LLC now owns 24,832 shares of the textile maker’s stock valued at $426,000 after purchasing an additional 630 shares during the last quarter. ING Groep NV raised its position in Hanesbrands by 2.2% in the third quarter. ING Groep NV now owns 29,313 shares of the textile maker’s stock valued at $503,000 after purchasing an additional 640 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in Hanesbrands by 4.7% in the third quarter. AE Wealth Management LLC now owns 14,482 shares of the textile maker’s stock valued at $249,000 after purchasing an additional 649 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on HBI. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “sell” rating and set a $18.00 target price for the company. in a research report on Monday, January 10th. Wedbush initiated coverage on Hanesbrands in a research report on Monday, October 4th. They issued a “neutral” rating and a $18.00 target price for the company. UBS Group lowered their price objective on Hanesbrands from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, November 17th. Finally, Wells Fargo & Company lowered their price objective on Hanesbrands from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Hanesbrands has an average rating of “Hold” and a consensus target price of $21.22.

Shares of HBI stock opened at $16.79 on Friday. The company has a market cap of $5.86 billion, a P/E ratio of -18.66 and a beta of 1.51. The stock has a 50 day simple moving average of $16.93 and a two-hundred day simple moving average of $17.89. The company has a debt-to-equity ratio of 5.70, a quick ratio of 0.94 and a current ratio of 1.62. Hanesbrands Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $22.82.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, November 4th. The textile maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. Hanesbrands had a positive return on equity of 99.95% and a negative net margin of 4.60%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that Hanesbrands Inc. will post 1.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Tuesday, November 9th were given a dividend of $0.15 per share. The ex-dividend date was Monday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 3.57%. Hanesbrands’s payout ratio is -66.67%.

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.

Further Reading: Support Level

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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