Rhumbline Advisers Has $16.46 Million Position in Hanesbrands Inc. (HBI)

Rhumbline Advisers increased its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 710,475 shares of the textile maker’s stock after buying an additional 5,719 shares during the period. Rhumbline Advisers owned approximately 0.20% of Hanesbrands worth $16,455,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HBI. Strs Ohio increased its stake in Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock valued at $10,026,000 after buying an additional 3,571 shares in the last quarter. Vanguard Group Inc. increased its stake in Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after buying an additional 2,158,679 shares in the last quarter. Park Avenue Institutional Advisers LLC bought a new stake in Hanesbrands during the first quarter valued at approximately $534,000. Bank of Montreal Can increased its stake in Hanesbrands by 41.3% in the first quarter. Bank of Montreal Can now owns 375,297 shares of the textile maker’s stock valued at $7,790,000 after buying an additional 109,679 shares in the last quarter. Finally, BB&T Corp increased its stake in Hanesbrands by 3.2% in the second quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock valued at $12,995,000 after buying an additional 17,312 shares in the last quarter. 94.54% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Inc. (NYSE:HBI) opened at 23.53 on Friday. The firm’s 50-day moving average price is $23.44 and its 200 day moving average price is $21.73. Hanesbrands Inc. has a 52-week low of $18.91 and a 52-week high of $28.24. The firm has a market cap of $8.58 billion, a PE ratio of 15.42 and a beta of 0.73.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results 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. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that Hanesbrands Inc. will post $1.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be given a $0.15 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.55%. Hanesbrands’s dividend payout ratio (DPR) is 39.47%.

Several analysts have commented on HBI shares. Credit Suisse Group set a $28.00 price objective on Hanesbrands and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub raised Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. 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 Wednesday, August 2nd. Oppenheimer Holdings, Inc. set a $32.00 price objective on Hanesbrands and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Buckingham Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Hanesbrands in a research note on Monday, July 17th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $27.57.

In other Hanesbrands news, CFO Richard D. Moss sold 20,000 shares of Hanesbrands stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the transaction, the chief financial officer now owns 254,487 shares in the company, valued at $6,128,046.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John T. Marsh sold 11,100 shares of Hanesbrands stock in a transaction that occurred on Tuesday, June 13th. The stock was 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. In the last 90 days, insiders sold 130,329 shares of company stock worth $3,016,617. 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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