Jacobi Capital Management LLC Raises Stake in Hanesbrands Inc. (HBI)

Jacobi Capital Management LLC grew its position in Hanesbrands Inc. (NYSE:HBI) by 48.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,035 shares of the textile maker’s stock after purchasing an additional 6,900 shares during the period. Jacobi Capital Management LLC’s holdings in Hanesbrands were worth $482,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of HBI. Glen Harbor Capital Management LLC lifted its holdings in shares of Hanesbrands by 30.6% in the first quarter. Glen Harbor Capital Management LLC now owns 12,768 shares of the textile maker’s stock valued at $265,000 after purchasing an additional 2,992 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Hanesbrands by 76.0% in the first quarter. Russell Investments Group Ltd. now owns 144,027 shares of the textile maker’s stock valued at $2,990,000 after purchasing an additional 62,190 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Hanesbrands by 87.7% in the first quarter. IFP Advisors Inc now owns 9,789 shares of the textile maker’s stock valued at $203,000 after purchasing an additional 4,573 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Hanesbrands by 13.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 32,274 shares of the textile maker’s stock valued at $670,000 after purchasing an additional 3,797 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Hanesbrands by 0.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 86,222 shares of the textile maker’s stock valued at $1,790,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

HBI has been the topic of a number of research reports. BidaskClub lowered Hanesbrands from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Credit Suisse Group set a $28.00 price target on Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. ValuEngine upgraded Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Vetr lowered Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price target on the stock. in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Hanesbrands currently has a consensus rating of “Buy” and a consensus price target of $27.18.

Hanesbrands Inc. (NYSE:HBI) traded down 0.40% during mid-day trading on Friday, hitting $25.03. The company had a trading volume of 1,576,391 shares. Hanesbrands Inc. has a 12-month low of $18.91 and a 12-month high of $27.07. The firm has a market capitalization of $9.12 billion, a PE ratio of 16.40 and a beta of 0.71. The company’s 50 day moving average price is $23.93 and its 200-day moving average price is $22.05.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts forecast that Hanesbrands Inc. will post $1.99 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.39%. Hanesbrands’s payout ratio is 39.47%.

In other Hanesbrands news, CEO Gerald Evans sold 43,379 shares of Hanesbrands stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the transaction, the chief executive officer now owns 1,056,314 shares of the company’s stock, valued at approximately $24,485,358.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John T. Marsh sold 11,100 shares of Hanesbrands stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,654 shares of company stock worth $3,267,205. 1.10% of the stock is owned by insiders.

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About Hanesbrands

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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