Jensen Investment Management Inc. trimmed its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 41.1% in the first quarter, HoldingsChannel reports. The firm owned 30,380 shares of the textile maker’s stock after selling 21,170 shares during the period. Jensen Investment Management Inc.’s holdings in Hanesbrands were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HBI. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Hanesbrands by 106.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 251,810 shares of the textile maker’s stock valued at $4,502,000 after buying an additional 129,627 shares during the last quarter. FormulaFolio Investments LLC bought a new position in shares of Hanesbrands in the 1st quarter worth $469,000. Tdam USA Inc. boosted its position in shares of Hanesbrands by 10.7% in the 1st quarter. Tdam USA Inc. now owns 63,833 shares of the textile maker’s stock worth $1,141,000 after purchasing an additional 6,183 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Hanesbrands by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,282,760 shares of the textile maker’s stock worth $22,936,000 after purchasing an additional 8,455 shares during the last quarter. Finally, Semmax Financial Advisors Inc. boosted its position in shares of Hanesbrands by 139.2% in the 1st quarter. Semmax Financial Advisors Inc. now owns 33,723 shares of the textile maker’s stock worth $603,000 after purchasing an additional 19,623 shares during the last quarter. 95.59% of the stock is owned by hedge funds and other institutional investors.

HBI stock opened at $16.57 on Tuesday. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.64 and a current ratio of 1.66. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 3.19 and a beta of 0.93. Hanesbrands Inc. has a 1-year low of $11.57 and a 1-year high of $22.57.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 2nd. The textile maker reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. Hanesbrands had a return on equity of 69.68% and a net margin of 7.99%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. Analysts predict that Hanesbrands Inc. will post 1.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.60 annualized dividend and a yield of 3.62%. Hanesbrands’s dividend payout ratio is presently 35.09%.

HBI has been the topic of several recent research reports. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a research report on Monday, January 28th. Barclays set a $19.00 price target on Hanesbrands and gave the stock a “hold” rating in a research report on Saturday, February 9th. Finally, ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a research report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.83.

In other Hanesbrands news, CFO Barry Hytinen bought 10,000 shares of Hanesbrands stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $17.56 per share, for a total transaction of $175,600.00. Following the completion of the acquisition, the chief financial officer now owns 176,312 shares in the company, valued at approximately $3,096,038.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.04% of the company’s stock.

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Hanesbrands 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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