Smith Salley & Associates purchased a new position in shares of HanesBrands Inc. (NYSE:HBI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 27,676 shares of the company’s stock, valued at approximately $695,000.
A number of other hedge funds also recently made changes to their positions in HBI. Magnetar Financial LLC bought a new stake in shares of HanesBrands during the first quarter worth $218,000. Advisor Partners LLC boosted its stake in shares of HanesBrands by 9.1% in the first quarter. Advisor Partners LLC now owns 7,717 shares of the company’s stock worth $219,000 after buying an additional 641 shares during the period. Mariner Wealth Advisors LLC bought a new stake in shares of HanesBrands during the first quarter worth $227,000. Hancock Holding Co. bought a new stake in shares of HanesBrands during the first quarter worth $239,000. Finally, Seven Eight Capital LLC boosted its stake in shares of HanesBrands by 75.5% in the first quarter. Seven Eight Capital LLC now owns 8,600 shares of the company’s stock worth $244,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.
HanesBrands Inc. (NYSE:HBI) traded down 0.24% during trading on Friday, reaching $24.64. The company’s stock had a trading volume of 1,431,456 shares. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 19.78 and a beta of 0.94. HanesBrands Inc. has a 52-week low of $23.25 and a 52-week high of $33.24. The firm has a 50 day moving average price of $25.96 and a 200-day moving average price of $26.76.
HanesBrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. HanesBrands had a net margin of 8.60% and a return on equity of 59.48%. The business earned $1.47 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts expect that HanesBrands Inc. will post $1.92 earnings per share for the current year.
A number of analysts have weighed in on the company. Citigroup Inc. lowered their price target on HanesBrands from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. 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. Zacks Investment Research upgraded HanesBrands from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Nomura reiterated a “sell” rating and issued a $31.00 price target on shares of HanesBrands in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $33.79.
In other HanesBrands news, CEO Richard A. Noll purchased 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were bought at an average price of $25.74 per share, for a total transaction of $514,800.00. Following the purchase, the chief executive officer now owns 870,077 shares in the company, valued at approximately $22,395,781.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
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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