Hanesbrands Inc. (HBI) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Hanesbrands Inc. (NYSE:HBI) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 531,855 shares of the textile maker’s stock after selling 31,653 shares during the period. Principal Financial Group Inc.’s holdings in Hanesbrands were worth $9,797,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Hanesbrands by 5.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,565,151 shares of the textile maker’s stock worth $378,810,000 after purchasing an additional 1,096,954 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Hanesbrands by 46.4% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,109,168 shares of the textile maker’s stock worth $278,311,000 after purchasing an additional 4,785,830 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Hanesbrands by 1.5% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 10,216,744 shares of the textile maker’s stock worth $188,192,000 after purchasing an additional 152,654 shares during the last quarter. Cooke & Bieler LP lifted its position in shares of Hanesbrands by 8.0% during the 1st quarter. Cooke & Bieler LP now owns 5,662,158 shares of the textile maker’s stock worth $104,297,000 after purchasing an additional 418,003 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Hanesbrands by 512.0% during the 1st quarter. Russell Investments Group Ltd. now owns 3,429,953 shares of the textile maker’s stock worth $63,175,000 after purchasing an additional 2,869,470 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:HBI opened at $18.19 on Wednesday. Hanesbrands Inc. has a 12 month low of $16.38 and a 12 month high of $25.73. The company has a current ratio of 2.02, a quick ratio of 0.84 and a debt-to-equity ratio of 5.41. The firm has a market cap of $6.71 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.05 and a beta of 0.54.



Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. equities analysts expect that Hanesbrands Inc. will post 1.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.30%. Hanesbrands’s dividend payout ratio is presently 31.09%.

Several equities research analysts have recently issued reports on the stock. Bank of America decreased their price objective on shares of Hanesbrands from $24.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, August 2nd. Credit Suisse Group decreased their price objective on shares of Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 2nd. Barclays lowered shares of Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price target on the stock. in a research note on Thursday, August 2nd. ValuEngine lowered shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $24.07.

In other Hanesbrands news, Director David V. Singer acquired 31,230 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were bought at an average cost of $17.72 per share, for a total transaction of $553,395.60. Following the completion of the purchase, the director now owns 26,880 shares in the company, valued at approximately $476,313.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael E. Faircloth sold 26,922 shares of Hanesbrands stock in a transaction on Friday, June 8th. The shares were sold at an average price of $20.02, for a total transaction of $538,978.44. Following the completion of the transaction, the insider now owns 234,433 shares in the company, valued at $4,693,348.66. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

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.

See Also: Short Selling

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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