California Public Employees Retirement System Trims Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

California Public Employees Retirement System cut its holdings in shares of Hanesbrands Inc. (NYSE:HBIGet Rating) by 7.7% during the second quarter, HoldingsChannel.com reports. The fund owned 623,681 shares of the textile maker’s stock after selling 51,954 shares during the quarter. California Public Employees Retirement System’s holdings in Hanesbrands were worth $6,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of HBI. New York State Common Retirement Fund grew its position in Hanesbrands by 7.4% during the 1st quarter. New York State Common Retirement Fund now owns 380,056 shares of the textile maker’s stock worth $5,659,000 after purchasing an additional 26,067 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Hanesbrands during the first quarter worth about $1,299,000. Summit X LLC boosted its stake in shares of Hanesbrands by 5.6% during the first quarter. Summit X LLC now owns 119,830 shares of the textile maker’s stock worth $1,780,000 after buying an additional 6,301 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Hanesbrands during the first quarter worth about $77,773,000. Finally, Boston Partners increased its position in Hanesbrands by 2.0% in the 1st quarter. Boston Partners now owns 1,828,355 shares of the textile maker’s stock valued at $27,049,000 after acquiring an additional 35,413 shares during the period. 88.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hanesbrands news, CEO Stephen B. Bratspies bought 30,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was bought at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the completion of the transaction, the chief executive officer now owns 123,754 shares in the company, valued at approximately $1,070,472.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hanesbrands news, insider Tracy M. Preston purchased 3,000 shares of Hanesbrands stock in a transaction on Monday, September 12th. The shares were bought at an average price of $9.36 per share, with a total value of $28,080.00. Following the purchase, the insider now directly owns 3,000 shares in the company, valued at approximately $28,080. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen B. Bratspies acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were acquired at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the acquisition, the chief executive officer now directly owns 123,754 shares of the company’s stock, valued at $1,070,472.10. The disclosure for this purchase can be found here. Insiders have acquired 37,000 shares of company stock worth $322,600 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. B. Riley decreased their price objective on Hanesbrands from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Barclays lowered their price objective on shares of Hanesbrands to $7.00 in a research report on Wednesday, November 16th. StockNews.com assumed coverage on shares of Hanesbrands in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Wells Fargo & Company lowered shares of Hanesbrands from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $13.00 to $5.00 in a research note on Monday, October 31st. Finally, Credit Suisse Group cut shares of Hanesbrands from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $7.00 in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

Hanesbrands Stock Performance

Shares of HBI opened at $6.71 on Friday. Hanesbrands Inc. has a twelve month low of $6.40 and a twelve month high of $17.81. The company has a current ratio of 1.71, a quick ratio of 0.68 and a debt-to-equity ratio of 5.42. The firm has a market capitalization of $2.34 billion, a P/E ratio of 6.71 and a beta of 1.49. The firm’s 50-day moving average is $7.36 and its two-hundred day moving average is $9.53.

Hanesbrands (NYSE:HBIGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The textile maker reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Hanesbrands had a return on equity of 66.07% and a net margin of 5.39%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, research analysts predict that Hanesbrands Inc. will post 0.97 earnings per share for the current fiscal year.

Hanesbrands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Tuesday, November 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.94%. The ex-dividend date of this dividend is Monday, November 21st. Hanesbrands’s dividend payout ratio (DPR) is presently 60.00%.

Hanesbrands Profile

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Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, 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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