Shell Asset Management Co. Grows Stake in Hanesbrands Inc. (HBI)

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Shell Asset Management Co. raised its position in Hanesbrands Inc. (NYSE:HBI) by 28.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,364 shares of the textile maker’s stock after purchasing an additional 6,312 shares during the quarter. Shell Asset Management Co.’s holdings in Hanesbrands were worth $523,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in shares of Hanesbrands in the third quarter valued at about $971,000. Ontario Teachers Pension Plan Board grew its stake in shares of Hanesbrands by 75.3% in the third quarter. Ontario Teachers Pension Plan Board now owns 26,869 shares of the textile maker’s stock valued at $495,000 after buying an additional 11,540 shares in the last quarter. CIBC World Markets Inc. grew its stake in shares of Hanesbrands by 4.6% in the third quarter. CIBC World Markets Inc. now owns 340,556 shares of the textile maker’s stock valued at $6,276,000 after buying an additional 15,041 shares in the last quarter. FMR LLC grew its stake in shares of Hanesbrands by 12.0% in the third quarter. FMR LLC now owns 2,086,129 shares of the textile maker’s stock valued at $38,447,000 after buying an additional 223,109 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Hanesbrands by 5.4% in the third quarter. FIL Ltd now owns 9,799,507 shares of the textile maker’s stock valued at $180,605,000 after buying an additional 500,007 shares in the last quarter.

A number of equities research analysts have recently issued reports on the company. Macquarie lowered their target price on Hanesbrands from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, August 23rd. Buckingham Research lowered their price objective on Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Zacks Investment Research upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Standpoint Research started coverage on Hanesbrands in a research note on Tuesday, October 23rd. They set a “buy” rating and a $20.00 price objective for the company. Finally, Barclays set a $18.00 price objective on Hanesbrands and gave the company a “hold” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.60.

In related news, CEO Gerald Evans purchased 6,500 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average price of $14.98 per share, with a total value of $97,370.00. Following the acquisition, the chief executive officer now owns 1,392,949 shares in the company, valued at approximately $20,866,376.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Barry Hytinen purchased 10,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was bought at an average cost of $14.59 per share, for a total transaction of $147,359.00. Following the acquisition, the chief financial officer now owns 91,238 shares in the company, valued at approximately $1,331,162.42. The disclosure for this purchase can be found here. In the last three months, insiders purchased 61,600 shares of company stock worth $940,079. Company insiders own 1.06% of the company’s stock.

Shares of HBI opened at $15.16 on Friday. The company has a market capitalization of $5.66 billion, a PE ratio of 7.85, a PEG ratio of 0.91 and a beta of 0.36. The company has a quick ratio of 0.79, a current ratio of 1.84 and a debt-to-equity ratio of 4.44. Hanesbrands Inc. has a 52 week low of $14.39 and a 52 week high of $23.33.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, November 1st. The textile maker reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.87 billion. Hanesbrands had a return on equity of 85.49% and a net margin of 0.10%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Equities analysts expect that Hanesbrands Inc. will post 1.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Friday, November 9th. Hanesbrands’s dividend payout ratio (DPR) is 31.09%.

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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.

Further Reading: How to Track your Portfolio in Google Finance

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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