Smith Salley & Associates boosted its position in Hanesbrands Inc. (NYSE:HBI) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,213 shares of the textile maker’s stock after buying an additional 2,795 shares during the period. Smith Salley & Associates’ holdings in Hanesbrands were worth $2,413,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio increased its position in shares of Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock worth $10,026,000 after buying an additional 3,571 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock worth $767,336,000 after buying an additional 2,158,679 shares in the last quarter. M. Kraus & Co purchased a new position in shares of Hanesbrands during the first quarter worth about $2,537,000. Farmers & Merchants Investments Inc. increased its position in shares of Hanesbrands by 104.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 177,162 shares of the textile maker’s stock worth $3,678,000 after buying an additional 90,511 shares in the last quarter. Finally, Park Avenue Institutional Advisers LLC purchased a new position in shares of Hanesbrands during the first quarter worth about $534,000. Institutional investors own 94.54% of the company’s stock.
Hanesbrands Inc. (HBI) opened at 24.21 on Tuesday. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $28.24. The stock has a 50 day moving average of $23.32 and a 200-day moving average of $21.69. The firm has a market capitalization of $8.82 billion, a PE ratio of 15.87 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts predict that Hanesbrands Inc. will post $1.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
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Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Credit Suisse Group set a $28.00 price objective on shares of Hanesbrands and gave the stock a “buy” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. UBS AG restated a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of Hanesbrands in a research report on Wednesday, August 2nd. Finally, Buckingham Research restated a “buy” rating and set a $30.00 price objective on shares of Hanesbrands in a research report on Monday, July 17th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.57.
In related news, CEO Gerald Evans sold 43,379 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the transaction, the chief executive officer now directly owns 1,056,314 shares in the company, valued at $24,485,358.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John T. Marsh sold 11,100 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total value of $250,527.00. The disclosure for this sale can be found here. Insiders have sold 130,329 shares of company stock worth $3,016,617 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
About Hanesbrands
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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