Hanesbrands Inc. (NYSE:HBI) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 47,313,426 shares, a decline of 7.5% from the May 15th total of 51,177,110 shares. Currently, 12.8% of the shares of the stock are short sold. Based on an average daily volume of 3,761,223 shares, the days-to-cover ratio is currently 12.6 days.

Several equities research analysts recently commented on HBI shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Hanesbrands in a research report on Tuesday, March 28th. They set a “neutral” rating and a $20.00 target price on the stock. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. set a $32.00 target price on shares of Hanesbrands and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Morgan Stanley downgraded shares of Hanesbrands from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 27th. Finally, Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $23.91 target price on the stock. in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $28.08.

In related news, CEO Gerald Evans sold 42,109 shares of Hanesbrands stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $21.74, for a total transaction of $915,449.66. Following the sale, the chief executive officer now directly owns 1,061,098 shares of the company’s stock, valued at approximately $23,068,270.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Marsh sold 11,100 shares of Hanesbrands stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 worth $767,336,000 after buying an additional 2,158,679 shares during the last quarter. BlackRock Inc. raised its stake in shares of Hanesbrands by 3,104.9% in the first quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock worth $474,903,000 after buying an additional 22,162,112 shares during the last quarter. Chieftain Capital Management Inc. raised its stake in shares of Hanesbrands by 53.4% in the fourth quarter. Chieftain Capital Management Inc. now owns 19,280,352 shares of the textile maker’s stock worth $415,877,000 after buying an additional 6,714,618 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake 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 worth $330,846,000 after buying an additional 2,544,916 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Hanesbrands by 2.2% in the first quarter. State Street Corp now owns 15,376,351 shares of the textile maker’s stock worth $319,214,000 after buying an additional 332,432 shares during the last quarter. 93.66% of the stock is owned by institutional investors.

Hanesbrands (HBI) opened at 22.95 on Thursday. The firm has a market cap of $8.36 billion, a P/E ratio of 16.57 and a beta of 0.72. The stock has a 50 day moving average of $21.41 and a 200-day moving average of $21.47. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $28.24.

Hanesbrands (NYSE:HBI) last issued its earnings results on Tuesday, May 2nd. The textile maker reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Hanesbrands had a net margin of 8.56% and a return on equity of 65.05%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equities research analysts predict that Hanesbrands will post $1.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, May 12th. Hanesbrands’s payout ratio is 43.17%.

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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.

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