Cambridge Investment Research Advisors Inc. Grows Position in Hanesbrands Inc. (NYSE:HBI)

Cambridge Investment Research Advisors Inc. raised its holdings in Hanesbrands Inc. (NYSE:HBI) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,753 shares of the textile maker’s stock after purchasing an additional 40,723 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Hanesbrands were worth $2,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Hanesbrands by 1.8% in the 1st quarter. BlackRock Inc. now owns 26,407,832 shares of the textile maker’s stock worth $207,830,000 after buying an additional 464,922 shares during the period. State Street Corp boosted its holdings in shares of Hanesbrands by 0.9% in the first quarter. State Street Corp now owns 21,600,378 shares of the textile maker’s stock worth $169,995,000 after acquiring an additional 201,715 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Hanesbrands by 37.9% in the first quarter. Diamond Hill Capital Management Inc. now owns 20,826,632 shares of the textile maker’s stock worth $163,906,000 after acquiring an additional 5,722,725 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Hanesbrands by 2.4% in the first quarter. ArrowMark Colorado Holdings LLC now owns 16,004,394 shares of the textile maker’s stock valued at $125,955,000 after purchasing an additional 379,993 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Hanesbrands by 20.1% during the 1st quarter. Bank of New York Mellon Corp now owns 7,039,310 shares of the textile maker’s stock valued at $55,398,000 after purchasing an additional 1,179,542 shares during the period. 98.52% of the stock is currently owned by institutional investors.

NYSE HBI opened at $14.13 on Friday. Hanesbrands Inc. has a 52-week low of $6.96 and a 52-week high of $16.40. The company has a fifty day moving average of $12.15 and a 200-day moving average of $11.44. The company has a market capitalization of $4.92 billion, a P/E ratio of 9.68, a P/E/G ratio of 4.69 and a beta of 1.54. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.11 and a current ratio of 2.01.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, July 30th. The textile maker reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.62. Hanesbrands had a return on equity of 55.54% and a net margin of 7.88%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, analysts forecast that Hanesbrands Inc. will post 0.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.60 dividend on an annualized basis and a yield of 4.25%. Hanesbrands’s payout ratio is 34.09%.

A number of research firms have weighed in on HBI. Barclays raised Hanesbrands from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $15.00 to $18.00 in a report on Friday. Bank of America raised shares of Hanesbrands from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $8.50 to $14.00 in a research note on Wednesday, July 15th. UBS Group upped their target price on shares of Hanesbrands from $9.00 to $9.50 and gave the stock a “neutral” rating in a report on Monday, May 4th. BofA Securities raised shares of Hanesbrands from an “underperform” rating to a “neutral” rating and raised their price target for the company from $8.50 to $14.00 in a report on Wednesday, July 15th. Finally, ValuEngine cut shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.19.

Hanesbrands 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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