Wells Fargo & Company MN Reduces Stake in Hanesbrands Inc. (HBI)

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Wells Fargo & Company MN reduced its holdings in Hanesbrands Inc. (NYSE:HBI) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,369,612 shares of the textile maker’s stock after selling 322,199 shares during the quarter. Wells Fargo & Company MN owned 0.38% of Hanesbrands worth $30,160,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBI. Optimum Investment Advisors purchased a new position in Hanesbrands during the first quarter valued at approximately $103,000. Stratos Wealth Partners LTD. grew its position in Hanesbrands by 183.5% in the first quarter. Stratos Wealth Partners LTD. now owns 7,358 shares of the textile maker’s stock worth $136,000 after acquiring an additional 4,763 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in Hanesbrands in the first quarter worth approximately $140,000. WP Advisors LLC bought a new stake in Hanesbrands in the second quarter worth approximately $145,000. Finally, Amica Retiree Medical Trust grew its position in Hanesbrands by 180.3% in the second quarter. Amica Retiree Medical Trust now owns 7,296 shares of the textile maker’s stock worth $161,000 after acquiring an additional 4,693 shares in the last quarter. Institutional investors and hedge funds own 99.58% of the company’s stock.

HBI has been the subject of a number of analyst reports. Credit Suisse Group reduced their price objective on shares of Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. ValuEngine upgraded shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. UBS Group assumed coverage on shares of Hanesbrands in a research note on Thursday, June 21st. They issued a “neutral” rating and a $22.00 price objective for the company. Zacks Investment Research upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, July 24th. Finally, Buckingham Research cut their target price on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.61.

Shares of NYSE HBI traded up $0.12 during mid-day trading on Friday, hitting $17.69. The company’s stock had a trading volume of 3,502,961 shares, compared to its average volume of 5,268,347. The firm has a market capitalization of $6.46 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.02 and a beta of 0.39. The company has a current ratio of 2.02, a quick ratio of 0.84 and a debt-to-equity ratio of 5.41. Hanesbrands Inc. has a one year low of $16.38 and a one year high of $25.36.

Hanesbrands (NYSE:HBI) last issued its earnings results on Wednesday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. equities research analysts anticipate that Hanesbrands Inc. will post 1.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Tuesday, August 14th were given a $0.15 dividend. The ex-dividend date was Monday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.39%. Hanesbrands’s dividend payout ratio is 31.09%.

Hanesbrands Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, 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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