Hanesbrands Inc. (HBI) Shares Bought by North Star Asset Management Inc.
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.
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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.
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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