Hanesbrands Inc. (HBI) Sees Significant Increase in Short Interest
Hanesbrands Inc. (NYSE:HBI) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 56,699,332 shares, an increase of 10.3% from the July 31st total of 51,391,799 shares. Currently, 15.7% of the company’s stock are short sold. Based on an average trading volume of 5,664,172 shares, the days-to-cover ratio is currently 10.0 days.
Several analysts have weighed in on HBI shares. BidaskClub cut Hanesbrands from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Credit Suisse Group set a $28.00 price target on Hanesbrands and gave the stock a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. ValuEngine raised Hanesbrands from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Buckingham Research reissued a “buy” rating and issued a $30.00 price target on shares of Hanesbrands in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.18.
Hanesbrands (NYSE HBI) opened at 24.26 on Friday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 15.90 and a beta of 0.73. Hanesbrands has a one year low of $18.91 and a one year high of $27.67. The company has a 50-day moving average of $23.68 and a 200-day moving average of $21.93.
Hanesbrands (NYSE:HBI) last issued its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that Hanesbrands will post $1.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
In other Hanesbrands news, insider W Howard Upchurch, Jr. sold 55,850 shares of Hanesbrands stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the sale, the insider now directly owns 579,663 shares of the company’s stock, valued at approximately $13,274,282.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gerald Evans sold 43,379 shares of Hanesbrands stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the sale, the chief executive officer now directly owns 1,056,314 shares in the company, valued at $24,485,358.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,654 shares of company stock worth $3,267,205. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HBI. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 2,158,679 shares during the period. BlackRock Inc. boosted its position in shares of 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 buying an additional 174,498 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Hanesbrands by 19.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock valued at $330,846,000 after buying an additional 2,544,916 shares during the period. State Street Corp boosted its position in shares of 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 buying an additional 136,465 shares during the period. Finally, FMR LLC boosted its position in shares of Hanesbrands by 0.3% in the first quarter. FMR LLC now owns 14,130,991 shares of the textile maker’s stock valued at $293,359,000 after buying an additional 45,960 shares during the period. 94.33% of the stock is owned by hedge funds and other institutional investors.
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Hanesbrands Company Profile
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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