Gotham Asset Management LLC Sells 666,116 Shares of Hanesbrands Inc. (HBI)

Gotham Asset Management LLC decreased its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 56.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 521,970 shares of the textile maker’s stock after selling 666,116 shares during the period. Gotham Asset Management LLC owned 0.14% of Hanesbrands worth $12,089,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in HBI. Lazard Asset Management LLC increased its position in Hanesbrands by 25.0% during the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. QS Investors LLC increased its position in Hanesbrands by 2.8% during the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock worth $118,000 after buying an additional 140 shares in the last quarter. Van ECK Associates Corp increased its position in Hanesbrands by 7.4% during the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares in the last quarter. Washington Trust Bank increased its position in Hanesbrands by 50.0% during the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Hanesbrands by 11.6% during the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock worth $141,000 after buying an additional 708 shares in the last quarter. 94.29% of the stock is owned by institutional investors.

In other Hanesbrands news, insider John T. Marsh sold 10,325 shares of the 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 transaction, the insider now directly owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total transaction of $481,600.00. Following the transaction, the chief financial officer now directly owns 254,487 shares in the company, valued at $6,128,046.96. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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Several equities analysts have weighed in on the company. BidaskClub downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company set a $22.00 price target on Hanesbrands and gave the stock a “hold” rating in a research report on Thursday, August 24th. Barclays PLC assumed coverage on Hanesbrands in a research report on Tuesday, September 19th. They set an “overweight” rating and a $31.00 price target for the company. Finally, FBR & Co reissued a “buy” rating and set a $33.00 price target on shares of Hanesbrands in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $27.27.

Hanesbrands Inc. (NYSE:HBI) traded down 0.08% during midday trading on Friday, reaching $23.75. The company’s stock had a trading volume of 2,983,894 shares. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 15.56 and a beta of 0.72. Hanesbrands Inc. has a 12 month low of $18.91 and a 12 month high of $27.07. The stock’s 50-day moving average price is $24.50 and its 200-day moving average price is $22.68.

Hanesbrands (NYSE:HBI) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Analysts predict that Hanesbrands Inc. will post $1.99 EPS for the current year.

About Hanesbrands

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.

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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