Highland Capital Management LLC Takes Position in Hanesbrands Inc. (NYSE:HBI)

Highland Capital Management LLC purchased a new stake in Hanesbrands Inc. (NYSE:HBIGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 242,490 shares of the textile maker’s stock, valued at approximately $2,495,000. Highland Capital Management LLC owned 0.07% of Hanesbrands at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC increased its stake in shares of Hanesbrands by 30.4% in the first quarter. CWM LLC now owns 3,002 shares of the textile maker’s stock valued at $45,000 after buying an additional 700 shares during the period. Intrua Financial LLC increased its stake in shares of Hanesbrands by 5.8% in the first quarter. Intrua Financial LLC now owns 17,218 shares of the textile maker’s stock valued at $256,000 after buying an additional 949 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Hanesbrands by 2.0% in the second quarter. State of Alaska Department of Revenue now owns 50,117 shares of the textile maker’s stock valued at $515,000 after buying an additional 990 shares during the period. Paradigm Financial Partners LLC grew its stake in Hanesbrands by 3.9% during the fourth quarter. Paradigm Financial Partners LLC now owns 31,951 shares of the textile maker’s stock worth $534,000 after purchasing an additional 1,191 shares during the period. Finally, KB Financial Partners LLC grew its stake in Hanesbrands by 8.0% during the fourth quarter. KB Financial Partners LLC now owns 17,127 shares of the textile maker’s stock worth $286,000 after purchasing an additional 1,271 shares during the period. Institutional investors and hedge funds own 88.53% of the company’s stock.

Analyst Ratings Changes

HBI has been the subject of several recent analyst reports. CL King decreased their target price on Hanesbrands from $17.00 to $15.00 in a research note on Friday, August 12th. TheStreet lowered Hanesbrands from a “b-” rating to a “c+” rating in a report on Monday, June 6th. Cowen cut their price target on Hanesbrands to $11.00 in a report on Thursday, June 9th. B. Riley cut their price target on Hanesbrands from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Finally, Wells Fargo & Company cut their price target on Hanesbrands from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.73.

Insiders Place Their Bets

In other news, insider Tracy M. Preston bought 3,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of $9.36 per share, with a total value of $28,080.00. Following the completion of the transaction, the insider now directly owns 3,000 shares of the company’s stock, valued at approximately $28,080. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Stephen B. Bratspies purchased 30,000 shares of Hanesbrands stock in a transaction dated Tuesday, September 6th. The stock was bought at an average cost of $8.65 per share, for a total transaction of $259,500.00. Following the completion of the transaction, the chief executive officer now owns 123,754 shares in the company, valued at $1,070,472.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracy M. Preston purchased 3,000 shares of Hanesbrands stock in a transaction dated Monday, September 12th. The stock was bought at an average price of $9.36 per share, with a total value of $28,080.00. Following the completion of the transaction, the insider now owns 3,000 shares of the company’s stock, valued at approximately $28,080. The disclosure for this purchase can be found here. Insiders bought 37,000 shares of company stock valued at $322,600 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Hanesbrands Stock Performance

Shares of HBI opened at $8.00 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.69 and a debt-to-equity ratio of 5.09. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 6.67 and a beta of 1.51. The stock has a 50 day moving average of $9.95 and a 200 day moving average of $11.80. Hanesbrands Inc. has a 12 month low of $7.92 and a 12 month high of $19.21.

Hanesbrands (NYSE:HBIGet Rating) last issued its quarterly earnings results on Thursday, August 11th. The textile maker reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.05). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Hanesbrands had a net margin of 6.37% and a return on equity of 79.09%. The business’s revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, sell-side analysts forecast that Hanesbrands Inc. will post 1.16 earnings per share for the current year.

Hanesbrands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Wednesday, August 24th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date was Tuesday, August 23rd. Hanesbrands’s dividend payout ratio is currently 50.00%.

Hanesbrands Company Profile

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Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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