Tocqueville Asset Management L.P. Has $5.29 Million Holdings in Hanesbrands Inc. (HBI)
Tocqueville Asset Management L.P. raised its position in Hanesbrands Inc. (NYSE:HBI) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,148 shares of the textile maker’s stock after purchasing an additional 26,950 shares during the quarter. Tocqueville Asset Management L.P. owned 0.07% of Hanesbrands worth $5,288,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Hanesbrands by 52.4% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 36,034 shares of the textile maker’s stock worth $664,000 after buying an additional 12,393 shares during the period. SG Americas Securities LLC raised its holdings in Hanesbrands by 61.1% during the first quarter. SG Americas Securities LLC now owns 58,185 shares of the textile maker’s stock worth $1,072,000 after purchasing an additional 22,067 shares in the last quarter. Mackay Shields LLC purchased a new position in Hanesbrands during the first quarter worth about $1,130,000. M&T Bank Corp raised its holdings in Hanesbrands by 16.8% during the first quarter. M&T Bank Corp now owns 65,970 shares of the textile maker’s stock worth $1,214,000 after purchasing an additional 9,470 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Hanesbrands by 15.8% during the first quarter. LSV Asset Management now owns 610,431 shares of the textile maker’s stock worth $11,244,000 after purchasing an additional 83,200 shares in the last quarter. 99.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of HBI stock traded up $0.12 during mid-day trading on Friday, reaching $17.69. The company’s stock had a trading volume of 3,502,961 shares, compared to its average volume of 5,268,347. Hanesbrands Inc. has a 12-month low of $16.38 and a 12-month high of $25.36. The company has a market cap of $6.46 billion, a PE ratio of 9.79, a P/E/G ratio of 1.02 and a beta of 0.39. The company has a current ratio of 2.02, a quick ratio of 0.84 and a debt-to-equity ratio of 5.41.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, August 13th. Hanesbrands’s dividend payout ratio (DPR) is presently 31.09%.
HBI has been the subject of several analyst reports. Credit Suisse Group cut their price target on shares of Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. ValuEngine raised shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Thursday, June 21st. UBS Group began coverage on shares of Hanesbrands in a research note on Thursday, June 21st. They set a “neutral” rating and a $22.00 price objective for the company. Zacks Investment Research raised shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, July 24th. Finally, Buckingham Research dropped their price objective on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.61.
Hanesbrands Company Profile
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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