Tobam Cuts Stake in Hanesbrands Inc. (HBI)
Tobam lowered its position in Hanesbrands Inc. (NYSE:HBI) by 32.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,941 shares of the textile maker’s stock after selling 24,959 shares during the period. Tobam’s holdings in Hanesbrands were worth $1,180,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in Hanesbrands by 0.3% in the second quarter. Alps Advisors Inc. now owns 23,635 shares of the textile maker’s stock worth $547,000 after buying an additional 61 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Hanesbrands by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,700 shares of the textile maker’s stock worth $850,000 after buying an additional 106 shares in the last quarter. Advantus Capital Management Inc raised its stake in shares of Hanesbrands by 0.3% in the first quarter. Advantus Capital Management Inc now owns 37,884 shares of the textile maker’s stock worth $786,000 after buying an additional 131 shares in the last quarter. Nicolet Bankshares Inc. raised its stake in shares of Hanesbrands by 1.5% in the second quarter. Nicolet Bankshares Inc. now owns 13,345 shares of the textile maker’s stock worth $309,000 after buying an additional 200 shares in the last quarter. Finally, FTB Advisors Inc. raised its stake in shares of Hanesbrands by 1.8% in the first quarter. FTB Advisors Inc. now owns 11,227 shares of the textile maker’s stock worth $233,000 after buying an additional 202 shares in the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.
Hanesbrands Inc. (NYSE:HBI) opened at 24.51 on Tuesday. The firm’s 50-day moving average is $23.52 and its 200 day moving average is $21.81. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 16.06 and a beta of 0.73. Hanesbrands Inc. has a 52 week low of $18.91 and a 52 week high of $27.67.
Hanesbrands (NYSE:HBI) last issued its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts expect that Hanesbrands Inc. will post $1.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, August 11th. Hanesbrands’s payout ratio is currently 39.47%.
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HBI has been the subject of a number of analyst reports. ValuEngine raised shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub raised shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Credit Suisse Group set a $28.00 price objective on shares of Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. Buckingham Research reissued a “buy” rating and issued a $30.00 price objective on shares of Hanesbrands in a report on Monday, July 17th. Finally, UBS AG reissued a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Hanesbrands in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Hanesbrands presently has a consensus rating of “Buy” and an average price target of $27.18.
In other news, CEO Gerald Evans sold 43,379 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the transaction, the chief executive officer now owns 1,056,314 shares of the company’s stock, valued at approximately $24,485,358.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John T. Marsh sold 11,100 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total value of $250,527.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,654 shares of company stock worth $3,267,205. Insiders own 1.10% of the company’s stock.
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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