Hanesbrands Inc. (HBI) Stake Cut by Train Babcock Advisors LLC
Train Babcock Advisors LLC lowered its position in Hanesbrands Inc. (NYSE:HBI) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,077 shares of the textile maker’s stock after selling 6,510 shares during the period. Train Babcock Advisors LLC’s holdings in Hanesbrands were worth $2,897,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares during the period. Van ECK Associates Corp raised its stake in shares of Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares during the period. Washington Trust Bank raised its stake in shares of Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock worth $141,000 after buying an additional 708 shares during the period. Finally, Duncker Streett & Co. Inc. raised its stake in shares of Hanesbrands by 451.9% in the second quarter. Duncker Streett & Co. Inc. now owns 7,175 shares of the textile maker’s stock worth $166,000 after buying an additional 5,875 shares during the period. Institutional investors and hedge funds own 94.54% of the company’s stock.
Shares of Hanesbrands Inc. (NYSE:HBI) traded down 1.47% during mid-day trading on Friday, hitting $23.53. The company’s stock had a trading volume of 3,650,001 shares. The stock’s 50 day moving average price is $23.44 and its 200 day moving average price is $21.73. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 15.42 and a beta of 0.73. Hanesbrands Inc. has a 52-week low of $18.91 and a 52-week 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, meeting 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 return on equity of 64.80% and a net margin of 9.02%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. Equities analysts forecast that Hanesbrands Inc. will post $1.99 EPS 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. Hanesbrands’s payout ratio is 39.47%.
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A number of brokerages recently commented on HBI. Zacks Investment Research upgraded Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, August 8th. Vetr lowered 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 7th. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Credit Suisse Group reiterated a “buy” rating and set a $30.00 price target on shares of Hanesbrands in a report on Thursday, August 3rd. Finally, UBS AG reiterated a “buy” rating and set a $27.00 price target (up from $25.00) on shares of Hanesbrands in a report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $27.57.
In related news, CFO Richard D. Moss sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John T. Marsh sold 11,100 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total value of $250,527.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,329 shares of company stock worth $3,016,617. 1.10% of the stock is owned by insiders.
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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