Mutual Advisors LLC Decreases Stake in Hanesbrands Inc. (NYSE:HBI)

Mutual Advisors LLC reduced its position in Hanesbrands Inc. (NYSE:HBI) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,376 shares of the textile maker’s stock after selling 2,707 shares during the period. Mutual Advisors LLC’s holdings in Hanesbrands were worth $603,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HBI. Golden State Wealth Management LLC increased its stake in Hanesbrands by 511.7% during the second quarter. Golden State Wealth Management LLC now owns 2,514 shares of the textile maker’s stock worth $43,000 after acquiring an additional 2,103 shares during the last quarter. Private Ocean LLC bought a new position in shares of Hanesbrands during the second quarter valued at approximately $49,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Hanesbrands during the second quarter valued at approximately $49,000. Stonebridge Capital Advisors LLC bought a new position in shares of Hanesbrands during the second quarter valued at approximately $49,000. Finally, Investors Research Corp grew its stake in shares of Hanesbrands by 22.2% during the second quarter. Investors Research Corp now owns 3,300 shares of the textile maker’s stock valued at $57,000 after buying an additional 600 shares during the last quarter. Institutional investors own 90.72% of the company’s stock.

NYSE:HBI traded up $0.14 during midday trading on Thursday, hitting $16.03. The stock had a trading volume of 309,562 shares, compared to its average volume of 5,125,022. Hanesbrands Inc. has a one year low of $11.57 and a one year high of $19.38. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 2.23 and a beta of 1.17. The stock has a 50-day moving average of $15.22 and a 200 day moving average of $15.86. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 3.11.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Hanesbrands had a return on equity of 57.95% and a net margin of 8.35%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Hanesbrands’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Hanesbrands Inc. will post 1.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.74%. Hanesbrands’s dividend payout ratio (DPR) is currently 35.09%.

A number of research analysts have recently commented on HBI shares. Goldman Sachs Group set a $15.00 target price on Hanesbrands and gave the company a “hold” rating in a research note on Friday, November 1st. Bank of America cut their target price on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Citigroup cut their target price on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, UBS Group cut their target price on Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $16.00.

In related news, insider W Howard Upchurch, Jr. sold 93,261 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $16.14, for a total value of $1,505,232.54. Following the transaction, the insider now owns 520,490 shares of the company’s stock, valued at $8,400,708.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joia M. Johnson acquired 7,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $13.97 per share, for a total transaction of $99,187.00. Following the purchase, the insider now owns 115,830 shares of the company’s stock, valued at $1,618,145.10. The disclosure for this purchase can be found here. 1.04% of the stock is owned by corporate insiders.

Hanesbrands Company 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.

Recommended Story: Why are analyst ratings important in trading stocks?

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.