Kings Point Capital Management decreased its position in Hanesbrands Inc. (NYSE:HBI) by 78.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,984 shares of the textile maker’s stock after selling 275,300 shares during the period. Kings Point Capital Management’s holdings in Hanesbrands were worth $1,760,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in HBI. Alps Advisors Inc. increased its position in shares of Hanesbrands by 0.3% in the second quarter. Alps Advisors Inc. now owns 23,635 shares of the textile maker’s stock worth $547,000 after buying an additional 61 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Hanesbrands by 0.3% in the second quarter. CIBC Asset Management Inc now owns 36,700 shares of the textile maker’s stock worth $850,000 after buying an additional 106 shares during the last quarter. Advantus Capital Management Inc increased its position in shares of Hanesbrands by 0.3% in the first quarter. Advantus Capital Management Inc now owns 37,884 shares of the textile maker’s stock worth $786,000 after buying an additional 131 shares during the last quarter. Nicolet Bankshares Inc. increased its position in shares of Hanesbrands by 1.5% in the second quarter. Nicolet Bankshares Inc. now owns 13,345 shares of the textile maker’s stock worth $309,000 after buying an additional 200 shares during the last quarter. Finally, FTB Advisors Inc. increased its position in shares of Hanesbrands by 1.8% in the first quarter. FTB Advisors Inc. now owns 11,227 shares of the textile maker’s stock worth $233,000 after buying an additional 202 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

Hanesbrands Inc. (NYSE HBI) traded up 1.76% during trading on Friday, hitting $24.27. 2,847,364 shares of the stock were exchanged. The stock’s 50 day moving average is $23.52 and its 200-day moving average is $21.81. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $27.44. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 15.90 and a beta of 0.73.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.

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A number of brokerages have commented on HBI. Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective for the company. in a research report on Monday. ValuEngine downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Cowen and Company set a $22.00 price objective on shares of Hanesbrands and gave the stock a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.18.

In other news, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gerald Evans sold 43,379 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the transaction, the chief executive officer now directly owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The disclosure for this sale can be found here. Insiders have sold 130,329 shares of company stock worth $3,016,617 in the last ninety days. 1.10% of the stock is currently owned by insiders.

About Hanesbrands

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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