Lapides Asset Management LLC boosted its position in shares of Hanesbrands Inc. (NYSE:HBI) by 2.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 158,100 shares of the textile maker’s stock after buying an additional 3,200 shares during the period. Lapides Asset Management LLC’s holdings in Hanesbrands were worth $3,662,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBI. Lazard Asset Management LLC boosted its position in Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. Van ECK Associates Corp boosted its position in Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares in the last quarter. Washington Trust Bank boosted its position in Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock worth $141,000 after buying an additional 708 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its position in Hanesbrands by 451.9% in the second quarter. Duncker Streett & Co. Inc. now owns 7,175 shares of the textile maker’s stock worth $166,000 after buying an additional 5,875 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hanesbrands Inc. (HBI) opened at 23.53 on Friday. The stock’s 50 day moving average is $23.44 and its 200-day moving average is $21.73. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 15.42 and a beta of 0.73. Hanesbrands Inc. has a 12-month low of $18.91 and a 12-month high of $28.24.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. On average, analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.55%. Hanesbrands’s payout ratio is 39.47%.
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A number of research firms recently commented on HBI. Zacks Investment Research raised Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, August 8th. Vetr cut Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a research note on Monday, August 7th. BidaskClub raised Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Credit Suisse Group reaffirmed a “buy” rating and set a $30.00 price objective on shares of Hanesbrands in a research note on Thursday, August 3rd. Finally, UBS AG reaffirmed a “buy” rating and set a $27.00 price objective (up from $25.00) on shares of Hanesbrands in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.57.
In related news, insider W Howard Upchurch, Jr. sold 55,850 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the transaction, the insider now directly owns 579,663 shares in the company, valued at approximately $13,274,282.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. Insiders have sold a total of 130,329 shares of company stock worth $3,016,617 over the last quarter. 1.10% of the stock is currently owned by insiders.
Hanesbrands Company Profile
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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