First Manhattan Co. reduced its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 29,276 shares of the textile maker’s stock after selling 548 shares during the period. First Manhattan Co.’s holdings in Hanesbrands were worth $678,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. Van ECK Associates Corp raised its stake in Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock valued at $124,000 after buying an additional 415 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Hanesbrands by 24.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,997 shares of the textile maker’s stock valued at $124,000 after buying an additional 1,177 shares in the last quarter. Washington Trust Bank raised its stake in Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock valued at $139,000 after buying an additional 2,000 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock valued at $141,000 after buying an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Shares of Hanesbrands Inc. (NYSE:HBI) opened at 24.29 on Tuesday. The firm has a 50 day moving average price of $22.90 and a 200-day moving average price of $21.59. The firm has a market cap of $8.89 billion, a P/E ratio of 15.92 and a beta of 0.73. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $28.24.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Analysts forecast that Hanesbrands Inc. will post $1.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. Hanesbrands’s payout ratio is currently 39.47%.

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Several research firms have issued reports on HBI. Vetr lowered Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a research note on Monday. UBS AG restated a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Hanesbrands in a research note on Wednesday, August 2nd. Credit Suisse Group restated a “buy” rating and issued a $30.00 price objective on shares of Hanesbrands in a research note on Thursday, August 3rd. Morgan Stanley increased their target price on Hanesbrands from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, BidaskClub lowered Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.61.

In related news, CEO Gerald Evans sold 43,379 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 1,056,314 shares in the company, valued at $24,485,358.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,329 shares of company stock worth $2,535,017. Insiders own 1.10% of the company’s stock.

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.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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