Hanesbrands Inc. (HBI) Position Raised by Canada Pension Plan Investment Board

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Canada Pension Plan Investment Board increased its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 173.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 70,316 shares of the textile maker’s stock after acquiring an additional 44,633 shares during the period. Canada Pension Plan Investment Board’s holdings in Hanesbrands were worth $1,548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greylin Investment Mangement Inc. grew its stake in Hanesbrands by 55.3% during the second quarter. Greylin Investment Mangement Inc. now owns 43,460 shares of the textile maker’s stock worth $957,000 after purchasing an additional 15,475 shares during the period. Nisa Investment Advisors LLC grew its stake in Hanesbrands by 104.9% during the second quarter. Nisa Investment Advisors LLC now owns 70,330 shares of the textile maker’s stock worth $1,549,000 after purchasing an additional 36,000 shares during the period. Jensen Investment Management Inc. boosted its holdings in Hanesbrands by 38.5% in the second quarter. Jensen Investment Management Inc. now owns 37,690 shares of the textile maker’s stock worth $830,000 after acquiring an additional 10,480 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Hanesbrands by 6.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 276,601 shares of the textile maker’s stock worth $6,091,000 after acquiring an additional 17,312 shares in the last quarter. Finally, Tdam USA Inc. boosted its holdings in Hanesbrands by 106.4% in the first quarter. Tdam USA Inc. now owns 116,996 shares of the textile maker’s stock worth $2,155,000 after acquiring an additional 60,306 shares in the last quarter. 99.58% of the stock is owned by institutional investors and hedge funds.

HBI stock opened at $17.66 on Friday. Hanesbrands Inc. has a twelve month low of $16.38 and a twelve month high of $25.73. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.84 and a current ratio of 2.02. The company has a market capitalization of $6.32 billion, a PE ratio of 9.15, a P/E/G ratio of 1.00 and a beta of 0.39.

Hanesbrands (NYSE:HBI) last posted its earnings results on Wednesday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. equities research analysts anticipate that Hanesbrands Inc. will post 1.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 14th were issued a $0.15 dividend. The ex-dividend date was Monday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.40%. Hanesbrands’s dividend payout ratio is presently 31.09%.

HBI has been the topic of several recent research reports. Macquarie cut their price target on Hanesbrands from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 23rd. Zacks Investment Research upgraded Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, July 24th. ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Saturday, May 26th. Bank of America cut their price target on Hanesbrands from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, August 2nd. Finally, B. Riley set a $30.00 price target on Hanesbrands and gave the stock a “buy” rating in a report on Monday, May 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Hanesbrands currently has an average rating of “Hold” and a consensus target price of $23.61.

Hanesbrands Profile

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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