Hanesbrands Inc. (NYSE:HBI) Stake Lessened by ERTS Wealth Advisors LLC

ERTS Wealth Advisors LLC lowered its holdings in Hanesbrands Inc. (NYSE:HBI) by 22.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,655 shares of the textile maker’s stock after selling 4,760 shares during the period. ERTS Wealth Advisors LLC’s holdings in Hanesbrands were worth $287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC lifted its holdings in shares of Hanesbrands by 254.6% in the first quarter. Rational Advisors LLC now owns 1,585 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Hanesbrands by 511.7% in the second quarter. Golden State Wealth Management LLC now owns 2,514 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 2,103 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Hanesbrands in the second quarter valued at $49,000. Private Ocean LLC acquired a new position in shares of Hanesbrands in the second quarter worth $49,000. Finally, Investors Research Corp increased its stake in shares of Hanesbrands by 22.2% in the second quarter. Investors Research Corp now owns 3,300 shares of the textile maker’s stock worth $57,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Shares of NYSE HBI traded up $0.06 during mid-day trading on Friday, reaching $15.97. The company had a trading volume of 66,112 shares, compared to its average volume of 5,765,163. Hanesbrands Inc. has a twelve month low of $11.57 and a twelve month high of $19.38. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.69 and a current ratio of 1.77. The stock has a market capitalization of $5.62 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. The stock’s 50 day moving average is $14.53 and its 200-day moving average is $16.65.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Hanesbrands had a net margin of 8.13% and a return on equity of 63.57%. Hanesbrands’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that Hanesbrands Inc. will post 1.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Monday, August 12th. Hanesbrands’s payout ratio is 35.09%.

In other Hanesbrands news, CEO Gerald Evans bought 10,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $14.74 per share, with a total value of $147,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,880 shares of the company’s stock, valued at approximately $24,407,671.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joia M. Johnson bought 7,100 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $13.97 per share, for a total transaction of $99,187.00. Following the completion of the transaction, the insider now directly owns 115,830 shares of the company’s stock, valued at $1,618,145.10. The disclosure for this purchase can be found here. Corporate insiders own 1.04% of the company’s stock.

HBI has been the topic of a number of research reports. UBS Group dropped their price target on shares of Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. ValuEngine downgraded shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Citigroup dropped their price target on shares of Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America dropped their price target on shares of Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.56.

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.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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