Oppenheimer & Co. Inc. Lowers Position in Hanesbrands Inc. (NYSE:HBI)

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Oppenheimer & Co. Inc. cut its stake in Hanesbrands Inc. (NYSE:HBI) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,465 shares of the textile maker’s stock after selling 22,812 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hanesbrands were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of HBI. PenderFund Capital Management Ltd. lifted its holdings in Hanesbrands by 4,028.8% in the second quarter. PenderFund Capital Management Ltd. now owns 15,000,000 shares of the textile maker’s stock worth $174,000 after buying an additional 14,636,700 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Hanesbrands by 43,296.0% during the second quarter. Nuveen Asset Management LLC now owns 6,222,555 shares of the textile maker’s stock valued at $107,153,000 after purchasing an additional 6,208,216 shares during the last quarter. Lyrical Asset Management LP lifted its holdings in shares of Hanesbrands by 36.5% during the second quarter. Lyrical Asset Management LP now owns 14,800,906 shares of the textile maker’s stock valued at $254,872,000 after purchasing an additional 3,961,663 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Hanesbrands by 24.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 13,956,552 shares of the textile maker’s stock valued at $240,332,000 after purchasing an additional 2,762,854 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Hanesbrands by 244.1% during the second quarter. UBS Group AG now owns 2,027,579 shares of the textile maker’s stock valued at $34,915,000 after purchasing an additional 1,438,360 shares during the last quarter. Institutional investors and hedge funds own 90.72% of the company’s stock.

Shares of NYSE HBI opened at $15.99 on Friday. Hanesbrands Inc. has a twelve month low of $11.57 and a twelve month high of $19.38. The firm has a market cap of $5.76 billion, a P/E ratio of 9.35, a PEG ratio of 2.25 and a beta of 1.17. The company has a 50 day moving average of $15.24 and a 200 day moving average of $15.84. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 3.11.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Hanesbrands had a net margin of 8.35% and a return on equity of 57.95%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts expect that Hanesbrands Inc. will post 1.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 3.75%. Hanesbrands’s payout ratio is currently 35.09%.

In related news, insider Joia M. Johnson bought 7,100 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $13.97 per share, with a total value of $99,187.00. Following the transaction, the insider now owns 115,830 shares in the company, valued at approximately $1,618,145.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider W Howard Upchurch, Jr. sold 93,261 shares of Hanesbrands stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $16.14, for a total transaction of $1,505,232.54. Following the completion of the sale, the insider now directly owns 520,490 shares of the company’s stock, valued at approximately $8,400,708.60. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the stock. Goldman Sachs Group set a $15.00 target price on shares of Hanesbrands and gave the company a “hold” rating in a report on Friday, November 1st. Bank of America decreased their price objective on shares of Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Citigroup decreased their price objective on shares of Hanesbrands from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. ValuEngine lowered shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, UBS Group decreased their price objective on shares of Hanesbrands from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.00.

Hanesbrands Company Profile

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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