Investors Buy Shares of Hanesbrands Inc. (HBI) on Weakness

Investors purchased shares of Hanesbrands Inc. (NYSE:HBI) on weakness during trading hours on Friday. $63.39 million flowed into the stock on the tick-up and $12.30 million flowed out of the stock on the tick-down, for a money net flow of $51.09 million into the stock. Of all equities tracked, Hanesbrands had the 10th highest net in-flow for the day. Hanesbrands traded down ($0.30) for the day and closed at $22.52

HBI has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Buckingham Research restated a “buy” rating and issued a $30.00 price objective on shares of Hanesbrands in a report on Monday, July 17th. Finally, Credit Suisse Group set a $28.00 price objective on shares of Hanesbrands and gave the stock a “buy” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. Hanesbrands presently has a consensus rating of “Hold” and a consensus target price of $26.80.



The stock has a 50-day moving average of $24.24 and a 200 day moving average of $22.96. The stock has a market cap of $8.21 billion, a PE ratio of 14.76 and a beta of 0.72.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts forecast that Hanesbrands Inc. will post $1.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, November 13th. Hanesbrands’s payout ratio is currently 39.47%.

In other Hanesbrands news, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $24.08, for a total transaction of $481,600.00. Following the sale, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the sale, the insider now directly owns 99,997 shares in the company, valued at approximately $2,426,927.19. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC grew its position in Hanesbrands by 14.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock worth $4,186,000 after purchasing an additional 22,190 shares during the last quarter. BB&T Corp grew its position in Hanesbrands by 3.2% during the 2nd quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock worth $12,995,000 after purchasing an additional 17,312 shares during the last quarter. Tradition Capital Management LLC grew its position in Hanesbrands by 21.8% during the 2nd quarter. Tradition Capital Management LLC now owns 249,960 shares of the textile maker’s stock worth $5,789,000 after purchasing an additional 44,785 shares during the last quarter. Hosking Partners LLP grew its position in Hanesbrands by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 630,125 shares of the textile maker’s stock worth $14,594,000 after purchasing an additional 10,212 shares during the last quarter. Finally, Creative Planning grew its position in Hanesbrands by 42.0% during the 2nd quarter. Creative Planning now owns 28,692 shares of the textile maker’s stock worth $665,000 after purchasing an additional 8,487 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors.

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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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