Boston Advisors LLC reduced its stake in shares of HanesBrands Inc. (NYSE:HBI) by 43.0% during the second quarter, Holdings Channel reports. The fund owned 25,719 shares of the company’s stock after selling 19,386 shares during the period. Boston Advisors LLC’s holdings in HanesBrands were worth $646,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of HanesBrands by 4.7% in the first quarter. IFP Advisors Inc now owns 6,861 shares of the company’s stock valued at $194,000 after buying an additional 308 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of HanesBrands during the first quarter valued at about $218,000. Advisor Partners LLC boosted its position in shares of HanesBrands by 9.1% in the first quarter. Advisor Partners LLC now owns 7,717 shares of the company’s stock valued at $219,000 after buying an additional 641 shares during the last quarter. Mariner Wealth Advisors LLC bought a new position in shares of HanesBrands during the first quarter valued at about $227,000. Finally, Hancock Holding Co. bought a new position in shares of HanesBrands during the first quarter valued at about $239,000. Institutional investors and hedge funds own 91.31% of the company’s stock.
Shares of HanesBrands Inc. (NYSE:HBI) remained flat at $25.50 during trading on Tuesday. 2,928,393 shares of the stock traded hands. The company’s 50-day moving average is $26.39 and its 200-day moving average is $26.88. HanesBrands Inc. has a 52 week low of $23.25 and a 52 week high of $33.24. The firm has a market cap of $9.63 billion, a PE ratio of 20.47 and a beta of 0.94.
HanesBrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. HanesBrands had a return on equity of 59.48% and a net margin of 8.60%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities research analysts anticipate that HanesBrands Inc. will post $1.92 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.73%. HanesBrands’s payout ratio is 35.20%.
Several brokerages have recently issued reports on HBI. Citigroup Inc. lowered their target price on shares of HanesBrands from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Brean Capital reiterated a “buy” rating and issued a $37.00 price target on shares of HanesBrands in a research report on Tuesday, June 14th. FBR & Co reiterated an “outperform” rating and issued a $39.00 price target on shares of HanesBrands in a research report on Thursday, July 7th. Credit Suisse Group AG reiterated a “buy” rating and issued a $37.00 price target on shares of HanesBrands in a research report on Wednesday, September 14th. Finally, Zacks Investment Research upgraded shares of HanesBrands from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.14.
In other news, CEO Richard A. Noll bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average cost of $25.74 per share, for a total transaction of $514,800.00. Following the completion of the purchase, the chief executive officer now owns 870,077 shares of the company’s stock, valued at approximately $22,395,781.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.
HanesBrands Company Profile
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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