Empirical Finance LLC Sells 180,781 Shares of Hanesbrands Inc. (NYSE:HBI)

Empirical Finance LLC lowered its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 81.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,081 shares of the textile maker’s stock after selling 180,781 shares during the period. Empirical Finance LLC’s holdings in Hanesbrands were worth $748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Hanesbrands by 101.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,389 shares of the textile maker’s stock valued at $26,000 after buying an additional 701 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of Hanesbrands during the second quarter valued at approximately $29,000. Daiwa Securities Group Inc. increased its holdings in shares of Hanesbrands by 74.7% during the first quarter. Daiwa Securities Group Inc. now owns 2,026 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 866 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new position in shares of Hanesbrands during the first quarter worth approximately $51,000. Finally, Red Door Wealth Management LLC bought a new position in shares of Hanesbrands in the 2nd quarter worth $51,000. 85.78% of the stock is currently owned by institutional investors.

HBI opened at $18.81 on Wednesday. The firm has a 50-day moving average price of $18.78 and a 200-day moving average price of $19.40. Hanesbrands Inc. has a twelve month low of $12.28 and a twelve month high of $22.82. The company has a quick ratio of 0.93, a current ratio of 1.60 and a debt-to-equity ratio of 6.49. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of -18.09, a PEG ratio of 1.30 and a beta of 1.52.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 5th. The textile maker reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Hanesbrands had a negative net margin of 5.29% and a positive return on equity of 77.49%. On average, sell-side analysts expect that Hanesbrands Inc. will post 1.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Tuesday, August 10th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.19%. Hanesbrands’s payout ratio is 41.38%.

Several brokerages have recently commented on HBI. Barclays increased their price objective on Hanesbrands from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, August 6th. Wells Fargo & Company upgraded shares of Hanesbrands from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $20.00 to $23.00 in a research report on Tuesday, July 13th. Finally, B. Riley lifted their price objective on shares of Hanesbrands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Hanesbrands presently has a consensus rating of “Buy” and an average target price of $21.50.

Hanesbrands 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.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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