Short Interest in HanesBrands Inc. (HBI) Increases By 10.9%
HanesBrands Inc. (NYSE:HBI) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 41,518,879 shares, an increase of 10.9% from the October 31st total of 37,443,447 shares. Based on an average daily volume of 4,582,686 shares, the days-to-cover ratio is presently 9.1 days. Approximately 11.1% of the shares of the company are short sold.
Shares of HanesBrands (NYSE:HBI) opened at 23.23 on Thursday. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 17.97 and a beta of 1.05. HanesBrands has a 52 week low of $23.20 and a 52 week high of $31.59. The stock has a 50 day moving average price of $24.59 and a 200-day moving average price of $25.94.
HanesBrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.56 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The firm earned $1.76 billion during the quarter, compared to the consensus estimate of $1.77 billion. HanesBrands had a return on equity of 61.39% and a net margin of 8.55%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. On average, analysts anticipate that HanesBrands will post $1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, November 10th. HanesBrands’s dividend payout ratio is presently 33.85%.
In other news, Director Jessica Tuchman Mathews sold 5,433 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $24.52, for a total value of $133,217.16. Following the completion of the transaction, the director now directly owns 127,839 shares in the company, valued at $3,134,612.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Washington Trust Bank increased its stake in HanesBrands by 0.8% in the third quarter. Washington Trust Bank now owns 4,033 shares of the company’s stock valued at $102,000 after buying an additional 33 shares in the last quarter. Global X Management Co. LLC increased its stake in HanesBrands by 98.3% in the third quarter. Global X Management Co. LLC now owns 4,030 shares of the company’s stock valued at $102,000 after buying an additional 1,998 shares in the last quarter. First Personal Financial Services bought a new stake in HanesBrands during the second quarter valued at approximately $104,000. Kernodle & Katon Asset Management Group LLC bought a new stake in HanesBrands during the third quarter valued at approximately $114,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in HanesBrands by 102.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,937 shares of the company’s stock valued at $124,000 after buying an additional 2,493 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.
HBI has been the subject of several recent research reports. Zacks Investment Research cut HanesBrands from a “hold” rating to a “sell” rating in a research report on Monday. Cowen and Company cut HanesBrands from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $33.00 to $27.00 in a research report on Wednesday, October 12th. Oppenheimer Holdings Inc. set a $35.00 price target on HanesBrands and gave the company a “buy” rating in a research report on Monday. Citigroup Inc. reduced their price target on HanesBrands from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $37.00 price target on shares of HanesBrands in a research report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $33.69.
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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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