Prudential Financial Inc. Grows Position in Hanesbrands Inc. (NYSE:HBI)

Prudential Financial Inc. grew its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,474 shares of the textile maker’s stock after buying an additional 2,210 shares during the period. Prudential Financial Inc. owned 0.09% of Hanesbrands worth $5,587,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in HBI. Dimensional Fund Advisors LP increased its position in Hanesbrands by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,674,276 shares of the textile maker’s stock worth $33,505,000 after buying an additional 300,681 shares in the last quarter. Geode Capital Management LLC increased its position in Hanesbrands by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 4,784,175 shares of the textile maker’s stock worth $59,844,000 after buying an additional 335,912 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Hanesbrands during the first quarter worth $152,000. Alps Advisors Inc. purchased a new position in Hanesbrands during the first quarter worth $406,000. Finally, Sigma Planning Corp purchased a new position in Hanesbrands during the first quarter worth $208,000. 90.23% of the stock is owned by institutional investors.

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

Several equities research analysts have recently issued reports on HBI shares. Bank of America decreased their price objective on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Citigroup decreased their price objective on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. UBS Group decreased their price objective on Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.56.

Shares of HBI stock traded down $0.04 during mid-day trading on Thursday, hitting $15.89. 2,384,679 shares of the company’s stock were exchanged, compared to its average volume of 5,368,776. Hanesbrands Inc. has a fifty-two week low of $11.57 and a fifty-two week high of $19.38. The stock has a 50-day simple moving average of $14.53 and a two-hundred day simple moving average of $16.65. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 3.56. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.96 and a beta of 1.13.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Monday, August 12th. Hanesbrands’s payout ratio is currently 35.09%.

About Hanesbrands

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.

Recommended Story: How analysts view the yield curve

Want to see what other hedge funds are holding HBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanesbrands Inc. (NYSE:HBI).

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.