Sit Investment Associates Inc. Has $14,145,000 Stake in HanesBrands Inc. (HBI)
Sit Investment Associates Inc. boosted its stake in HanesBrands Inc. (NYSE:HBI) by 241.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,860 shares of the company’s stock after buying an additional 397,790 shares during the period. Sit Investment Associates Inc. owned approximately 0.15% of HanesBrands worth $14,145,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. raised its stake in HanesBrands by 402.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,946,854 shares of the company’s stock valued at $140,194,000 after buying an additional 3,962,084 shares during the period. NN Investment Partners Holdings N.V. raised its position in shares of HanesBrands by 2,185.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,472,028 shares of the company’s stock valued at $36,993,000 after buying an additional 1,407,628 shares during the last quarter. Samlyn Capital LLC bought a new position in shares of HanesBrands during the first quarter valued at $24,393,000. Verde Servicos Internacionais S.A. bought a new position in shares of HanesBrands during the second quarter valued at $13,856,000. Finally, Capital Fund Management S.A. raised its position in shares of HanesBrands by 194.9% in the second quarter. Capital Fund Management S.A. now owns 622,908 shares of the company’s stock valued at $15,654,000 after buying an additional 411,679 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.
HanesBrands Inc. (NYSE:HBI) traded up 0.24% during midday trading on Thursday, hitting $25.57. 1,872,493 shares of the stock were exchanged. The company has a market capitalization of $9.66 billion, a P/E ratio of 20.52 and a beta of 0.94. HanesBrands Inc. has a 1-year low of $23.25 and a 1-year high of $33.24. The company’s 50 day moving average is $26.34 and its 200 day moving average is $26.87.
HanesBrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The company earned $1.47 billion during the quarter, compared to analysts’ expectations of $1.53 billion. HanesBrands had a return on equity of 59.48% and a net margin of 8.60%. HanesBrands’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Analysts predict that HanesBrands Inc. will post $1.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, August 12th. HanesBrands’s dividend payout ratio (DPR) is currently 35.20%.
Several brokerages have recently weighed in on HBI. Zacks Investment Research raised shares of HanesBrands from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $35.00 price objective on shares of HanesBrands in a research report on Tuesday, August 2nd. Brean Capital reissued a “buy” rating and issued a $37.00 price objective on shares of HanesBrands in a research report on Tuesday, June 14th. Credit Suisse Group AG reissued a “buy” rating and issued a $37.00 price objective on shares of HanesBrands in a research report on Wednesday, September 14th. Finally, FBR & Co reissued an “outperform” rating and issued a $39.00 price objective on shares of HanesBrands in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $34.14.
In related news, CEO Richard A. Noll purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were bought at an average cost of $25.74 per share, with a total value of $514,800.00. Following the acquisition, the chief executive officer now owns 870,077 shares of the company’s stock, valued at $22,395,781.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.
HanesBrands Company Profile
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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