Associated Banc Corp Decreases Holdings in Hanesbrands Inc. (HBI)

Associated Banc Corp reduced its stake in Hanesbrands Inc. (NYSE:HBI) by 12.8% during the 1st quarter, Holdings Channel reports. The firm owned 197,261 shares of the textile maker’s stock after selling 28,874 shares during the period. Associated Banc Corp’s holdings in Hanesbrands were worth $3,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. increased its holdings in shares of Hanesbrands by 2.3% in the fourth quarter. PenderFund Capital Management Ltd. now owns 344,000 shares of the textile maker’s stock valued at $6,769,000 after purchasing an additional 7,754 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of Hanesbrands by 13.1% in the first quarter. Ridgewood Investments LLC now owns 20,536 shares of the textile maker’s stock valued at $367,000 after purchasing an additional 2,379 shares during the last quarter. Pinkerton Retirement Specialists LLC increased its holdings in shares of Hanesbrands by 0.8% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 109,313 shares of the textile maker’s stock valued at $1,370,000 after purchasing an additional 911 shares during the last quarter. American International Group Inc. increased its holdings in shares of Hanesbrands by 7.7% in the first quarter. American International Group Inc. now owns 962,964 shares of the textile maker’s stock valued at $17,218,000 after purchasing an additional 69,125 shares during the last quarter. Finally, Shapiro Capital Management LLC increased its holdings in shares of Hanesbrands by 5.7% in the fourth quarter. Shapiro Capital Management LLC now owns 14,487,327 shares of the textile maker’s stock valued at $181,526,000 after purchasing an additional 786,671 shares during the last quarter. Hedge funds and other institutional investors own 95.59% of the company’s stock.

Several equities analysts have commented on HBI shares. Zacks Investment Research downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Monday, January 21st. ValuEngine upgraded shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Finally, Barclays set a $19.00 price objective on shares of Hanesbrands and gave the company a “hold” rating in a report on Saturday, February 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.83.

HBI stock opened at $16.82 on Friday. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.64 and a current ratio of 1.66. Hanesbrands Inc. has a 52 week low of $11.57 and a 52 week high of $22.57. The stock has a market capitalization of $5.83 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 3.06 and a beta of 0.93.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, May 2nd. The textile maker reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Hanesbrands had a net margin of 7.99% and a return on equity of 69.68%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted $0.26 earnings per share. Hanesbrands’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Hanesbrands Inc. will post 1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.57%. Hanesbrands’s dividend payout ratio (DPR) is presently 35.09%.

In other Hanesbrands news, CFO Barry Hytinen purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $17.56 per share, for a total transaction of $175,600.00. Following the completion of the purchase, the chief financial officer now owns 176,312 shares of the company’s stock, valued at approximately $3,096,038.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.04% of the company’s stock.

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About Hanesbrands

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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