Hanesbrands Inc. (HBI) Position Lifted by Bank of Nova Scotia
Bank of Nova Scotia boosted its position in Hanesbrands Inc. (NYSE:HBI) by 288.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,807 shares of the textile maker’s stock after acquiring an additional 224,838 shares during the quarter. Bank of Nova Scotia owned 0.08% of Hanesbrands worth $7,014,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after acquiring an additional 2,158,679 shares during the last quarter. BlackRock Inc. increased its stake in Hanesbrands by 0.8% in the second quarter. BlackRock Inc. now owns 23,050,392 shares of the textile maker’s stock valued at $533,848,000 after acquiring an additional 174,498 shares during the last quarter. State Street Corp increased its stake in Hanesbrands by 0.9% in the second quarter. State Street Corp now owns 15,512,816 shares of the textile maker’s stock valued at $359,281,000 after acquiring an additional 136,465 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Hanesbrands by 2.6% during the second quarter. Diamond Hill Capital Management Inc. now owns 10,113,900 shares of the textile maker’s stock worth $234,238,000 after buying an additional 260,820 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Hanesbrands by 43.5% during the second quarter. Bessemer Group Inc. now owns 5,808,161 shares of the textile maker’s stock worth $134,518,000 after buying an additional 1,760,614 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.
Hanesbrands Inc. (NYSE HBI) opened at 23.73 on Friday. The firm has a 50-day moving average of $24.53 and a 200 day moving average of $22.82. The stock has a market capitalization of $8.65 billion, a PE ratio of 15.55 and a beta of 0.72. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $27.07.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. Hanesbrands’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that Hanesbrands Inc. will post $1.99 earnings per share for the current fiscal year.
In related news, CFO Richard D. Moss sold 20,000 shares of Hanesbrands stock in a transaction on Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the sale, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John T. Marsh sold 10,325 shares of Hanesbrands stock in a transaction on Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the sale, the insider now directly owns 99,997 shares in the company, valued at approximately $2,426,927.19. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
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HBI has been the topic of a number of research reports. BidaskClub cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. ValuEngine upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Buckingham Research reiterated a “buy” rating and set a $30.00 price target on shares of Hanesbrands in a report on Monday, July 17th. Finally, Credit Suisse Group set a $28.00 price target on shares of Hanesbrands and gave the stock a “buy” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Hanesbrands has an average rating of “Buy” and a consensus price target of $27.27.
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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