Insider Selling: Hanesbrands Inc. (HBI) CEO Sells $831,328.58 in Stock

Hanesbrands Inc. (NYSE:HBI) CEO Gerald Evans sold 41,033 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $20.26, for a total transaction of $831,328.58. Following the transaction, the chief executive officer now directly owns 1,061,098 shares in the company, valued at $21,497,845.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Hanesbrands Inc. (NYSE:HBI) opened at 20.19 on Tuesday. The firm has a market capitalization of $7.65 billion, a PE ratio of 14.36 and a beta of 0.90. Hanesbrands Inc. has a 12-month low of $18.91 and a 12-month high of $30.42. The company has a 50-day moving average of $20.77 and a 200 day moving average of $23.28.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.05. Hanesbrands had a return on equity of 64.51% and a net margin of 8.95%. The firm earned $1.58 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts predict that Hanesbrands Inc. will post $1.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 14th were issued a $0.15 dividend. The ex-dividend date was Friday, February 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.97%. This is an increase from Hanesbrands’s previous quarterly dividend of $0.11. Hanesbrands’s dividend payout ratio is currently 42.55%.

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A number of institutional investors have recently added to or reduced their stakes in HBI. Washington Trust Bank increased its position in Hanesbrands by 0.8% in the third quarter. Washington Trust Bank now owns 4,033 shares of the company’s stock worth $102,000 after buying an additional 33 shares in the last quarter. Global X Management Co. LLC increased its position in Hanesbrands by 98.3% in the third quarter. Global X Management Co. LLC now owns 4,030 shares of the company’s stock worth $102,000 after buying an additional 1,998 shares in the last quarter. Blenheim Capital Management BV purchased a new position in Hanesbrands during the fourth quarter worth approximately $106,000. Kernodle & Katon Asset Management Group LLC purchased a new position in Hanesbrands during the third quarter worth approximately $114,000. Finally, Van ECK Associates Corp purchased a new position in Hanesbrands during the fourth quarter worth approximately $120,000. Hedge funds and other institutional investors own 96.30% of the company’s stock.

A number of research analysts have recently commented on HBI shares. Zacks Investment Research raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 22nd. Oppenheimer Holdings Inc. set a $35.00 target price on shares of Hanesbrands and gave the stock a “buy” rating in a research report on Monday, November 28th. CL King raised shares of Hanesbrands from a “neutral” rating to a “buy” rating in a research report on Monday, December 12th. DA Davidson raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Monday, December 12th. They noted that the move was a valuation call. Finally, Brean Capital reissued a “buy” rating and set a $32.00 target price (down from $35.00) on shares of Hanesbrands in a research report on Thursday, January 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $29.97.

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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