Hanesbrands Inc. (HBI) Short Interest Down 6.9% in November

Hanesbrands Inc. (NYSE:HBI) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 42,860,555 shares, a drop of 6.9% from the October 31st total of 46,045,482 shares. Based on an average trading volume of 7,105,528 shares, the days-to-cover ratio is presently 6.0 days. Approximately 12.0% of the shares of the company are sold short.

NYSE HBI opened at $15.45 on Wednesday. Hanesbrands has a 12 month low of $14.39 and a 12 month high of $23.33. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.92 and a beta of 0.37. The company has a current ratio of 1.84, a quick ratio of 0.79 and a debt-to-equity ratio of 4.44.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, November 1st. The textile maker reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Hanesbrands had a net margin of 0.10% and a return on equity of 85.49%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Hanesbrands will post 1.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Friday, November 9th. Hanesbrands’s payout ratio is 31.09%.

HBI has been the topic of several recent research reports. Buckingham Research lowered their price objective on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Standpoint Research initiated coverage on shares of Hanesbrands in a research note 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 shares of Hanesbrands and gave the stock a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Macquarie lowered their price objective on shares of Hanesbrands from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Hanesbrands has an average rating of “Hold” and an average price target of $21.60.

In other Hanesbrands news, CFO Barry Hytinen acquired 10,100 shares of the stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $147,359.00. Following the purchase, the chief financial officer now directly owns 91,238 shares of the company’s stock, valued at $1,331,162.42. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronald L. Nelson acquired 25,000 shares of the stock in a transaction dated Friday, November 2nd. The stock was acquired at an average price of $15.95 per share, for a total transaction of $398,750.00. Following the purchase, the director now directly owns 131,683 shares in the company, valued at $2,100,343.85. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 61,600 shares of company stock worth $940,079. Insiders own 1.06% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBI. Cornerstone Wealth Management LLC bought a new stake in Hanesbrands during the 2nd quarter worth approximately $250,000. Alps Advisors Inc. bought a new stake in Hanesbrands during the 2nd quarter worth approximately $384,000. Advisory Services Network LLC raised its stake in Hanesbrands by 124.7% during the 2nd quarter. Advisory Services Network LLC now owns 8,503 shares of the textile maker’s stock worth $187,000 after acquiring an additional 4,719 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Hanesbrands during the 2nd quarter valued at approximately $5,163,000. Finally, TD Asset Management Inc. grew its holdings in Hanesbrands by 222.0% during the 2nd quarter. TD Asset Management Inc. now owns 1,387,319 shares of the textile maker’s stock valued at $30,549,000 after buying an additional 956,491 shares in the last quarter.

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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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