Isthmus Partners LLC decreased its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 565,675 shares of the textile maker’s stock after selling 4,752 shares during the period. Hanesbrands comprises about 1.9% of Isthmus Partners LLC’s portfolio, making the stock its 10th largest holding. Isthmus Partners LLC owned approximately 0.16% of Hanesbrands worth $10,561,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of Hanesbrands by 101.9% during the second quarter. Parallel Advisors LLC now owns 1,389 shares of the textile maker’s stock worth $26,000 after acquiring an additional 701 shares during the last quarter. JFS Wealth Advisors LLC bought a new position in shares of Hanesbrands during the second quarter worth about $29,000. Daiwa Securities Group Inc. grew its position 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 worth $40,000 after acquiring an additional 866 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Hanesbrands in the first quarter worth about $51,000. Finally, Red Door Wealth Management LLC acquired a new stake in Hanesbrands in the second quarter worth about $51,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.
Several research firms recently weighed in on HBI. Barclays upped their price objective on shares of Hanesbrands from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 6th. B. Riley upped their price target on shares of Hanesbrands from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 6th. Finally, Wells Fargo & Company upgraded Hanesbrands from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $23.00 in a report on Tuesday, July 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Hanesbrands presently has an average rating of “Buy” and an average target price of $21.50.
Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, August 5th. The textile maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Hanesbrands had a positive return on equity of 77.49% and a negative net margin of 5.29%. As a group, analysts forecast that Hanesbrands Inc. will post 1.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Tuesday, August 10th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 3.19%. Hanesbrands’s dividend payout ratio is currently 41.38%.
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.
See Also: What are high-yield dividend stocks?
Want to see what other hedge funds are holding HBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanesbrands Inc. (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.