Palouse Capital Management Inc. Trims Holdings in Hanesbrands Inc. (HBI)

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Palouse Capital Management Inc. trimmed its position in shares of Hanesbrands Inc. (NYSE:HBI) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,059 shares of the textile maker’s stock after selling 4,586 shares during the period. Palouse Capital Management Inc.’s holdings in Hanesbrands were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of HBI. Epoch Investment Partners Inc. boosted its holdings in shares of Hanesbrands by 121.6% in the third quarter. Epoch Investment Partners Inc. now owns 9,707,111 shares of the textile maker’s stock worth $178,902,000 after acquiring an additional 5,325,828 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Hanesbrands by 449.4% in the third quarter. Teachers Advisors LLC now owns 3,268,691 shares of the textile maker’s stock worth $60,242,000 after acquiring an additional 2,673,729 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Hanesbrands by 204.0% in the third quarter. TIAA CREF Investment Management LLC now owns 2,998,646 shares of the textile maker’s stock worth $55,265,000 after acquiring an additional 2,012,254 shares during the period. New South Capital Management Inc. boosted its holdings in shares of Hanesbrands by 40.2% in the third quarter. New South Capital Management Inc. now owns 6,633,314 shares of the textile maker’s stock worth $122,252,000 after acquiring an additional 1,903,491 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Hanesbrands by 15.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 10,720,877 shares of the textile maker’s stock worth $197,586,000 after acquiring an additional 1,451,243 shares during the period.

In other Hanesbrands news, insider W Howard Upchurch, Jr. sold 40,688 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $14.81, for a total transaction of $602,589.28. Following the sale, the insider now owns 453,282 shares in the company, valued at $6,713,106.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jessica Tuchman Mathews sold 2,115 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $16.54, for a total value of $34,982.10. Following the sale, the director now owns 132,129 shares in the company, valued at approximately $2,185,413.66. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 36,600 shares of company stock worth $541,329 and have sold 57,803 shares worth $841,121. Company insiders own 1.06% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Buckingham Research lowered their price objective on Hanesbrands from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, October 17th. Zacks Investment Research upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Standpoint Research assumed coverage on Hanesbrands in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $20.00 price objective on the stock. Barclays set a $18.00 price objective on Hanesbrands and gave the stock a “hold” rating in a research report on Thursday, November 1st. Finally, Citigroup increased their price objective on Hanesbrands from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $20.33.

NYSE HBI opened at $15.57 on Thursday. Hanesbrands Inc. has a twelve month low of $11.57 and a twelve month high of $22.65. The company has a current ratio of 1.84, a quick ratio of 0.79 and a debt-to-equity ratio of 4.44. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.85 and a beta of 0.86.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 7th. The textile maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Hanesbrands had a return on equity of 85.49% and a net margin of 0.10%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts predict that Hanesbrands Inc. will post 1.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 19th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.85%. Hanesbrands’s payout ratio is 31.09%.

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About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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