Hanesbrands Inc. (NYSE:HBI) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Hanesbrands Inc. (NYSE:HBIGet Rating) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 623,681 shares of the textile maker’s stock after selling 51,954 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Hanesbrands worth $6,418,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HBI. Cooke & Bieler LP increased its position in Hanesbrands by 55.0% during the second quarter. Cooke & Bieler LP now owns 20,283,808 shares of the textile maker’s stock worth $208,721,000 after purchasing an additional 7,195,851 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Hanesbrands during the 1st quarter valued at approximately $77,773,000. Diamond Hill Capital Management Inc. lifted its holdings in Hanesbrands by 9.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 24,019,444 shares of the textile maker’s stock valued at $357,650,000 after acquiring an additional 2,108,830 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Hanesbrands by 176.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,175,319 shares of the textile maker’s stock worth $47,281,000 after acquiring an additional 2,025,040 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new stake in Hanesbrands during the second quarter worth $19,073,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.

Insider Activity at Hanesbrands

In other news, CEO Stephen B. Bratspies purchased 30,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was bought at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the acquisition, the chief executive officer now directly owns 123,754 shares of the company’s stock, valued at approximately $1,070,472.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hanesbrands news, insider Tracy M. Preston bought 3,000 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were acquired at an average price of $9.36 per share, with a total value of $28,080.00. Following the transaction, the insider now owns 3,000 shares of the company’s stock, valued at $28,080. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen B. Bratspies purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was acquired at an average cost of $8.65 per share, with a total value of $259,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 123,754 shares of the company’s stock, valued at $1,070,472.10. The disclosure for this purchase can be found here. Insiders have bought a total of 37,000 shares of company stock valued at $322,600 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

Hanesbrands Price Performance

Hanesbrands stock opened at $6.71 on Friday. The company’s 50 day moving average is $7.36 and its two-hundred day moving average is $9.53. The firm has a market cap of $2.34 billion, a PE ratio of 6.71 and a beta of 1.49. The company has a quick ratio of 0.68, a current ratio of 1.71 and a debt-to-equity ratio of 5.42. Hanesbrands Inc. has a 52-week low of $6.40 and a 52-week high of $17.81.

Hanesbrands (NYSE:HBIGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. Hanesbrands had a return on equity of 66.07% and a net margin of 5.39%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts expect that Hanesbrands Inc. will post 0.97 EPS for the current fiscal year.

Hanesbrands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 22nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.94%. Hanesbrands’s payout ratio is 60.00%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered Hanesbrands from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $13.00 to $5.00 in a research note on Monday, October 31st. Citigroup decreased their target price on shares of Hanesbrands from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Sunday, November 6th. Barclays dropped their price target on shares of Hanesbrands to $7.00 in a research report on Wednesday, November 16th. B. Riley decreased their price objective on shares of Hanesbrands from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Finally, StockNews.com assumed coverage on shares of Hanesbrands in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Hanesbrands 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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