Rock Point Advisors LLC Invests $2,982,000 in HanesBrands Inc. (HBI)
Rock Point Advisors LLC purchased a new position in shares of HanesBrands Inc. (NYSE:HBI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 118,680 shares of the company’s stock, valued at approximately $2,982,000. HanesBrands comprises approximately 1.6% of Rock Point Advisors LLC’s investment portfolio, making the stock its 26th largest position.
Several other hedge funds have also modified their holdings of HBI. Adage Capital Partners GP L.L.C. increased its stake in shares of HanesBrands by 402.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,946,854 shares of the company’s stock worth $140,194,000 after buying an additional 3,962,084 shares during the period. National Pension Service increased its stake in HanesBrands by 4.6% in the first quarter. National Pension Service now owns 261,884 shares of the company’s stock worth $7,422,000 after buying an additional 11,418 shares during the last quarter. Hancock Holding Co. purchased a new stake in HanesBrands during the first quarter worth $239,000. Mariner Wealth Advisors LLC purchased a new stake in HanesBrands during the first quarter worth $227,000. Finally, Geode Capital Management LLC increased its stake in HanesBrands by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,101,474 shares of the company’s stock worth $87,713,000 after buying an additional 41,096 shares during the last quarter. Hedge funds and other institutional investors own 91.42% of the company’s stock.
Shares of HanesBrands Inc. (NYSE:HBI) traded down 0.90% during midday trading on Monday, reaching $24.16. The company had a trading volume of 4,029,094 shares. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 19.39 and a beta of 0.94. HanesBrands Inc. has a 1-year low of $23.25 and a 1-year high of $33.24. The firm’s 50 day moving average price is $25.79 and its 200-day moving average price is $26.68.
HanesBrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. HanesBrands had a net margin of 8.60% and a return on equity of 59.48%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.50 earnings per share. HanesBrands’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts expect that HanesBrands Inc. will post $1.92 EPS for the current fiscal year.
A number of analysts recently weighed in on HBI shares. Cowen and Company downgraded HanesBrands from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $33.00 to $27.00 in a research report on Wednesday, October 12th. Nomura restated a “sell” rating and issued a $31.00 target price on shares of HanesBrands in a research report on Wednesday, July 6th. Citigroup Inc. dropped their target price on HanesBrands from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. FBR & Co restated an “outperform” rating and issued a $39.00 target price on shares of HanesBrands in a research report on Thursday, July 7th. Finally, Zacks Investment Research downgraded HanesBrands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $33.79.
In other news, CEO Richard A. Noll purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average cost of $25.74 per share, with a total value of $514,800.00. Following the completion of the purchase, the chief executive officer now owns 870,077 shares in the company, valued at $22,395,781.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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