Redmond Asset Management LLC trimmed its position in shares of Hanesbrands Inc. (NYSE:HBI) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,786 shares of the textile maker’s stock after selling 1,658 shares during the period. Redmond Asset Management LLC’s holdings in Hanesbrands were worth $1,116,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Investors Research Corp increased its holdings in shares of Hanesbrands by 22.2% during the 2nd quarter. Investors Research Corp now owns 3,300 shares of the textile maker’s stock worth $57,000 after buying an additional 600 shares during the last quarter. Mason Street Advisors LLC increased its holdings in Hanesbrands by 1.4% in the 1st quarter. Mason Street Advisors LLC now owns 51,562 shares of the textile maker’s stock valued at $922,000 after purchasing an additional 704 shares in the last quarter. Piedmont Investment Advisors Inc. increased its holdings in Hanesbrands by 2.3% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 31,988 shares of the textile maker’s stock valued at $572,000 after purchasing an additional 704 shares in the last quarter. Naples Global Advisors LLC increased its holdings in Hanesbrands by 2.9% in the 2nd quarter. Naples Global Advisors LLC now owns 25,777 shares of the textile maker’s stock valued at $444,000 after purchasing an additional 725 shares in the last quarter. Finally, Shufro Rose & Co. LLC increased its holdings in Hanesbrands by 1.1% in the 2nd quarter. Shufro Rose & Co. LLC now owns 79,623 shares of the textile maker’s stock valued at $1,371,000 after purchasing an additional 885 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

Shares of Hanesbrands stock traded down $0.73 during trading hours on Thursday, hitting $13.20. 305,230 shares of the company’s stock traded hands, compared to its average volume of 5,974,191. The stock has a 50 day moving average of $16.16. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.69 and a current ratio of 1.77. The stock has a market cap of $5.04 billion, a P/E ratio of 7.80, a PEG ratio of 1.90 and a beta of 1.10. Hanesbrands Inc. has a twelve month low of $11.57 and a twelve month high of $19.38.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Hanesbrands had a return on equity of 63.57% and a net margin of 8.13%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Hanesbrands Inc. will post 1.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 4.55%. Hanesbrands’s dividend payout ratio is presently 35.09%.

Several analysts recently issued reports on the company. ValuEngine downgraded Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Citigroup lowered their price target on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America lowered their price target on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Zacks Investment Research downgraded Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Hanesbrands has a consensus rating of “Hold” and an average price target of $17.44.

In other Hanesbrands news, CEO Gerald Evans bought 10,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $14.74 per share, for a total transaction of $147,400.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,880 shares of the company’s stock, valued at $24,407,671.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.04% of the stock is owned by company insiders.

About Hanesbrands

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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