Northwestern Mutual Investment Management Company LLC reduced its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 81.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,404 shares of the textile maker’s stock after selling 62,151 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Hanesbrands were worth $362,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of HBI. BlackRock Inc. grew its holdings in shares of Hanesbrands by 3,104.9% during the first quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after buying an additional 22,162,112 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of Hanesbrands by 98.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 5,673,506 shares of the textile maker’s stock valued at $117,782,000 after buying an additional 2,820,380 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hanesbrands by 19.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock valued at $330,846,000 after buying an additional 2,544,916 shares during the last quarter. Sasco Capital Inc. CT acquired a new position in shares of Hanesbrands during the second quarter valued at about $57,945,000. Finally, Morningstar Investment Services LLC grew its holdings in shares of Hanesbrands by 360.9% during the second quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock valued at $70,269,000 after buying an additional 2,375,811 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.
Shares of Hanesbrands Inc. (NYSE HBI) opened at 25.27 on Friday. The firm has a 50-day moving average of $24.28 and a 200 day moving average of $22.23. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 16.56 and a beta of 0.71. Hanesbrands Inc. has a 12 month low of $18.91 and a 12 month high of $27.07.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted $0.51 EPS. Hanesbrands’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is 39.47%.
In other news, insider John T. Marsh sold 10,325 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the sale, the insider now owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gerald Evans sold 43,379 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the sale, the chief executive officer now directly owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The disclosure for this sale can be found here. Insiders have sold a total of 73,704 shares of company stock worth $1,737,713 over the last three months. 1.10% of the stock is currently owned by insiders.
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A number of brokerages have recently issued reports on HBI. ValuEngine cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Cowen and Company set a $22.00 price objective on shares of Hanesbrands and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. set a $32.00 price objective on shares of Hanesbrands and gave the company a “buy” rating in a report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.18.
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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