Advisors Management Group Inc. ADV trimmed its holdings in Hanesbrands Inc. (NYSE:HBI) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 52,469 shares of the textile maker’s stock after selling 868 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Hanesbrands were worth $904,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Rational Advisors LLC raised its holdings in shares of Hanesbrands by 254.6% during the 1st quarter. Rational Advisors LLC now owns 1,585 shares of the textile maker’s stock worth $28,000 after acquiring an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Hanesbrands by 511.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 2,514 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 2,103 shares during the last quarter. Private Ocean LLC bought a new position in shares of Hanesbrands during the 2nd quarter valued at approximately $49,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Hanesbrands during the 2nd quarter valued at approximately $49,000. Finally, Investors Research Corp increased its position 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 valued at $57,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.
In other news, CEO Gerald Evans purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $14.74 per share, for a total transaction of $147,400.00. Following the acquisition, the chief executive officer now directly owns 1,655,880 shares in the company, valued at approximately $24,407,671.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joia M. Johnson purchased 7,100 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $13.97 per share, for a total transaction of $99,187.00. Following the acquisition, the insider now owns 115,830 shares in the company, valued at $1,618,145.10. The disclosure for this purchase can be found here. Insiders own 1.04% of the company’s stock.
HBI has been the topic of several analyst reports. UBS Group cut their target price on Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Citigroup dropped their price target on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Bank of America decreased their price target on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Hanesbrands presently has an average rating of “Hold” and a consensus target price of $17.56.
HBI traded up $0.51 on Friday, hitting $15.26. 3,385,288 shares of the company were exchanged, compared to its average volume of 4,217,974. Hanesbrands Inc. has a twelve month low of $11.57 and a twelve month high of $19.38. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 3.56. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. The firm has a 50-day moving average price of $14.53 and a two-hundred day moving average price of $16.18.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm 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 firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. Equities analysts expect that Hanesbrands Inc. will post 1.76 EPS for the current year.
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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