Taylor Hoffman Wealth Management Decreases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Taylor Hoffman Wealth Management lowered its stake in Hanesbrands Inc. (NYSE:HBI) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,943 shares of the textile maker’s stock after selling 1,128 shares during the period. Taylor Hoffman Wealth Management’s holdings in Hanesbrands were worth $326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rational Advisors LLC increased its holdings in shares of Hanesbrands by 254.6% in the first quarter. Rational Advisors LLC now owns 1,585 shares of the textile maker’s stock worth $28,000 after buying an additional 1,138 shares during the period. CWM LLC increased its holdings in Hanesbrands by 6,184.4% during the 1st quarter. CWM LLC now owns 2,011 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 1,979 shares during the period. First Personal Financial Services increased its holdings in Hanesbrands by 150.8% during the 1st quarter. First Personal Financial Services now owns 2,169 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 1,304 shares during the period. Investors Research Corp purchased a new position in Hanesbrands during the 1st quarter valued at about $48,000. Finally, Private Ocean LLC purchased a new position in Hanesbrands during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

In other Hanesbrands news, insider Joia M. Johnson purchased 7,100 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $13.97 per share, for a total transaction of $99,187.00. Following the purchase, the insider now owns 115,830 shares of the company’s stock, valued at approximately $1,618,145.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gerald Evans purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $14.74 per share, with a total value of $147,400.00. Following the purchase, the chief executive officer now directly owns 1,655,880 shares in the company, valued at approximately $24,407,671.20. The disclosure for this purchase can be found here. Corporate insiders own 1.04% of the company’s stock.

Shares of HBI traded up $0.25 during mid-day trading on Monday, reaching $13.87. The company had a trading volume of 163,680 shares, compared to its average volume of 6,279,785. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.69 and a current ratio of 1.77. The firm has a 50-day moving average price of $16.02 and a 200 day moving average price of $17.11. Hanesbrands Inc. has a 52 week low of $11.57 and a 52 week high of $19.38. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Hanesbrands had a return on equity of 63.57% and a net margin of 8.13%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. As a group, research analysts forecast that Hanesbrands Inc. will post 1.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 4.33%. Hanesbrands’s dividend payout ratio (DPR) is 35.09%.

A number of research analysts have weighed in on HBI shares. Zacks Investment Research downgraded Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Bank of America reduced their target price on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. ValuEngine downgraded Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Finally, Citigroup reduced their target price on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Hanesbrands has a consensus rating of “Hold” and a consensus target price of $17.44.

Hanesbrands Company Profile

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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