North Star Asset Management Inc. raised its position in shares of Hanesbrands Inc. (NYSE:HBI) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 389,640 shares of the textile maker’s stock after purchasing an additional 12,945 shares during the period. North Star Asset Management Inc. owned about 0.11% of Hanesbrands worth $9,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Hanesbrands by 3,104.9% in the 1st quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after acquiring an additional 22,162,112 shares during the period. Sasco Capital Inc. CT purchased a new position in shares of Hanesbrands in the 2nd quarter valued at $57,945,000. Morningstar Investment Services LLC increased its holdings in shares of Hanesbrands by 360.9% in the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock valued at $70,269,000 after acquiring an additional 2,375,811 shares during the period. Vanguard Group Inc. increased its holdings in shares of Hanesbrands by 6.2% in 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. Finally, Platinum Investment Management Ltd. purchased a new position in shares of Hanesbrands in the 1st quarter valued at $41,183,000. 94.38% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/14/hanesbrands-inc-hbi-shares-bought-by-north-star-asset-management-inc.html.

Shares of Hanesbrands Inc. (NYSE:HBI) traded up 0.21% on Friday, reaching $23.73. The company had a trading volume of 2,488,985 shares. The firm has a market capitalization of $8.65 billion, a PE ratio of 15.55 and a beta of 0.72. Hanesbrands Inc. has a 12 month low of $18.91 and a 12 month high of $27.07. The firm’s 50 day moving average is $24.52 and its 200 day moving average is $22.80.

Hanesbrands (NYSE:HBI) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. Hanesbrands’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current fiscal year.

In related news, insider John T. Marsh sold 10,325 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.27, for a total value of $250,587.75. Following the transaction, the insider now owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The shares were 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 in the company, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

HBI has been the topic of a number of analyst reports. BidaskClub downgraded Hanesbrands from a “buy” rating to a “hold” rating in a report 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 upgraded Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Morgan Stanley lifted their price target on Hanesbrands from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Finally, Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price target on the stock. in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Hanesbrands currently has a consensus rating of “Buy” and a consensus target price of $27.27.

About Hanesbrands

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.

Want to see what other hedge funds are holding HBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanesbrands Inc. (NYSE:HBI).

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

Receive News & Stock Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related stocks with our FREE daily email newsletter.