Hanesbrands Inc. (NYSE:HBI) is Lapides Asset Management LLC’s 7th Largest Position

Lapides Asset Management LLC boosted its holdings in Hanesbrands Inc. (NYSE:HBI) by 93.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541,500 shares of the textile maker’s stock after purchasing an additional 261,600 shares during the quarter. Hanesbrands comprises 3.5% of Lapides Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Lapides Asset Management LLC owned 0.16% of Hanesbrands worth $6,114,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. NuWave Investment Management LLC raised its position in Hanesbrands by 45.4% in the 2nd quarter. NuWave Investment Management LLC now owns 3,479 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 1,087 shares during the last quarter. OmniStar Financial Group Inc. purchased a new position in Hanesbrands during the 1st quarter worth $29,000. Carroll Financial Associates Inc. raised its position in Hanesbrands by 76.3% during the 1st quarter. Carroll Financial Associates Inc. now owns 9,128 shares of the textile maker’s stock worth $71,000 after buying an additional 3,950 shares during the last quarter. Cigna Investments Inc. New purchased a new position in Hanesbrands during the 1st quarter worth $80,000. Finally, Cetera Investment Advisers purchased a new position in Hanesbrands during the 1st quarter worth $83,000. Hedge funds and other institutional investors own 98.52% of the company’s stock.

A number of equities analysts have commented on the stock. Wells Fargo & Co upgraded shares of Hanesbrands from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 14th. Barclays upgraded shares of Hanesbrands from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $18.00 in a research report on Friday. ValuEngine downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a research report on Wednesday, July 22nd. Raymond James upgraded shares of Hanesbrands from a “market perform” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, July 15th. Finally, Deutsche Bank increased their price target on shares of Hanesbrands from $11.00 to $15.00 and gave the company a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.19.

NYSE HBI traded down $0.13 during trading hours on Friday, reaching $14.13. The company’s stock had a trading volume of 19,984,108 shares, compared to its average volume of 8,264,480. The stock has a market cap of $4.92 billion, a PE ratio of 9.68, a PEG ratio of 4.69 and a beta of 1.54. Hanesbrands Inc. has a fifty-two week low of $6.96 and a fifty-two week high of $16.40. The company’s 50-day moving average is $12.15 and its two-hundred day moving average is $11.44. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.11 and a current ratio of 2.01.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, July 30th. The textile maker reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.62. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Hanesbrands had a net margin of 7.88% and a return on equity of 55.54%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. Equities analysts expect that Hanesbrands Inc. will post 0.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a $0.15 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.60 dividend on an annualized basis and a yield of 4.25%. Hanesbrands’s payout ratio is 34.09%.

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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