Hanesbrands Inc. (HBI) Short Interest Down 7.5% in May
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%.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/06/15/hanesbrands-inc-hbi-short-interest-down-7-5-in-may.html.
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.
Receive News & Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.