California Public Employees Retirement System Has $17.85 Million Position in Hanesbrands Inc. (HBI)
California Public Employees Retirement System reduced its position in shares of Hanesbrands Inc. (NYSE:HBI) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 770,800 shares of the textile maker’s stock after selling 2,300 shares during the period. California Public Employees Retirement System owned about 0.21% of Hanesbrands worth $17,852,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after buying an additional 2,158,679 shares in the last quarter. Park Avenue Institutional Advisers LLC acquired a new stake in shares of Hanesbrands during the first quarter worth approximately $534,000. BB&T Corp increased its holdings in shares of Hanesbrands by 3.2% during the second quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock worth $12,995,000 after buying an additional 17,312 shares in the last quarter. Freestone Capital Holdings LLC increased its holdings in shares of Hanesbrands by 14.0% during the second quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock worth $4,186,000 after buying an additional 22,190 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Hanesbrands by 21.2% during the first quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock worth $83,228,000 after buying an additional 701,732 shares in the last quarter. 94.29% of the stock is owned by hedge funds and other institutional investors.
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In related news, CEO Gerald Evans sold 43,379 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the transaction, the chief executive officer now owns 1,056,314 shares in the company, valued at $24,485,358.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John T. Marsh sold 10,325 shares of the company’s stock in a transaction on 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 directly owns 99,997 shares in the company, valued at approximately $2,426,927.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,704 shares of company stock valued at $1,737,713. 1.10% of the stock is currently owned by corporate insiders.
Shares of Hanesbrands Inc. (NYSE HBI) opened at 24.64 on Monday. The company has a market cap of $8.98 billion, a PE ratio of 16.15 and a beta of 0.72. The firm’s 50 day moving average is $24.37 and its 200 day moving average is $22.33. Hanesbrands Inc. has a 12 month low of $18.91 and a 12 month high of $27.07.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. On average, equities analysts predict 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. Stockholders of record on Tuesday, August 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
A number of research analysts have recently issued reports on HBI shares. BidaskClub cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company set a $22.00 price target on Hanesbrands and gave the company a “hold” rating in a report on Thursday, August 24th. ValuEngine raised Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Morgan Stanley lifted their price objective on Hanesbrands from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Finally, Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective for the company. in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Hanesbrands presently has a consensus rating of “Hold” and a consensus price target of $27.27.
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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