Tradition Capital Management LLC Has $245,000 Stake in Hanesbrands Inc. (HBI)

Tradition Capital Management LLC lowered its holdings in Hanesbrands Inc. (NYSE:HBI) by 18.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,725 shares of the textile maker’s stock after selling 3,087 shares during the period. Tradition Capital Management LLC’s holdings in Hanesbrands were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HBI. PenderFund Capital Management Ltd. raised its holdings in shares of Hanesbrands by 2.3% during the fourth quarter. PenderFund Capital Management Ltd. now owns 344,000 shares of the textile maker’s stock worth $6,769,000 after acquiring an additional 7,754 shares in the last quarter. Ridgewood Investments LLC raised its holdings in Hanesbrands by 13.1% during the first quarter. Ridgewood Investments LLC now owns 20,536 shares of the textile maker’s stock valued at $367,000 after buying an additional 2,379 shares in the last quarter. Pinkerton Retirement Specialists LLC raised its holdings in Hanesbrands by 0.8% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 109,313 shares of the textile maker’s stock valued at $1,370,000 after buying an additional 911 shares in the last quarter. American International Group Inc. raised its holdings in Hanesbrands by 7.7% during the first quarter. American International Group Inc. now owns 962,964 shares of the textile maker’s stock valued at $17,218,000 after buying an additional 69,125 shares in the last quarter. Finally, Shapiro Capital Management LLC raised its holdings in Hanesbrands by 5.7% during the fourth quarter. Shapiro Capital Management LLC now owns 14,487,327 shares of the textile maker’s stock valued at $181,526,000 after buying an additional 786,671 shares in the last quarter. 95.59% of the stock is owned by hedge funds and other institutional investors.

In other Hanesbrands news, CFO Barry Hytinen purchased 10,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were bought at an average cost of $17.56 per share, with a total value of $175,600.00. Following the completion of the transaction, the chief financial officer now owns 176,312 shares in the company, valued at approximately $3,096,038.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.04% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Barclays set a $19.00 target price on Hanesbrands and gave the company a “hold” rating in a report on Saturday, February 9th. Finally, ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.83.

Shares of NYSE:HBI traded up $0.53 during midday trading on Thursday, hitting $16.93. The company’s stock had a trading volume of 102,371 shares, compared to its average volume of 5,703,504. The company has a market cap of $5.83 billion, a P/E ratio of 9.90, a P/E/G ratio of 3.06 and a beta of 0.93. Hanesbrands Inc. has a fifty-two week low of $11.57 and a fifty-two week high of $22.57. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.64 and a current ratio of 1.66.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, May 2nd. The textile maker reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. Hanesbrands had a return on equity of 69.68% and a net margin of 7.99%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. As a group, equities analysts predict that Hanesbrands Inc. will post 1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, May 13th. Hanesbrands’s dividend payout ratio is currently 35.09%.

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Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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