Parametric Portfolio Associates LLC Increases Holdings in Hanesbrands Inc. (HBI)
Parametric Portfolio Associates LLC raised its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 84.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 868,041 shares of the textile maker’s stock after buying an additional 396,968 shares during the period. Parametric Portfolio Associates LLC owned about 0.24% of Hanesbrands worth $20,104,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HBI. Vanguard Group Inc. grew its position in shares of Hanesbrands by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after acquiring an additional 2,158,679 shares during the period. Park Avenue Institutional Advisers LLC bought a new position in Hanesbrands in the 1st quarter worth $534,000. BB&T Corp raised its holdings in Hanesbrands by 3.2% in the 2nd quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock worth $12,995,000 after purchasing an additional 17,312 shares during the period. Freestone Capital Holdings LLC raised its holdings in Hanesbrands by 14.0% in the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock worth $4,186,000 after purchasing an additional 22,190 shares during the period. Finally, Morgan Stanley raised its holdings in Hanesbrands by 21.2% in the 1st quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock worth $83,228,000 after purchasing an additional 701,732 shares during the period. Institutional investors and hedge funds own 94.29% of the company’s stock.
Several research firms have issued reports on HBI. Stifel Nicolaus reissued a “hold” rating and set a $23.00 price target on shares of Hanesbrands in a report on Tuesday, September 26th. FBR & Co reaffirmed a “buy” rating and set a $33.00 price objective on shares of Hanesbrands in a research report on Thursday, September 21st. Instinet cut Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Thursday, September 21st. Nomura downgraded Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research note on Thursday, September 21st. Finally, Barclays PLC started coverage on Hanesbrands in a research note on Tuesday, September 19th. They set an “overweight” rating and a $31.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.27.
Shares of Hanesbrands Inc. (NYSE:HBI) opened at 23.86 on Wednesday. The company has a market cap of $8.70 billion, a P/E ratio of 15.64 and a beta of 0.72. The firm has a 50-day moving average price of $24.53 and a 200-day moving average price of $22.64. Hanesbrands Inc. has a 1-year low of $18.91 and a 1-year high of $27.07.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $0.51 EPS. Hanesbrands’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts expect that Hanesbrands Inc. will post $1.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.51%. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
In related news, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total value of $481,600.00. Following the completion of the transaction, the chief financial officer now directly owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John T. Marsh sold 10,325 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $24.27, for a total value of $250,587.75. Following the completion of the transaction, the insider now owns 99,997 shares in the company, valued at approximately $2,426,927.19. The disclosure for this sale can be found here. Company 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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