TD Asset Management Inc. Trims Holdings in Hanesbrands Inc. (HBI)

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TD Asset Management Inc. reduced its stake in Hanesbrands Inc. (NYSE:HBI) by 30.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,282,604 shares of the textile maker’s stock after selling 559,355 shares during the period. TD Asset Management Inc. owned approximately 0.36% of Hanesbrands worth $16,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Banced Corp increased its holdings in Hanesbrands by 3.7% in the 4th quarter. Banced Corp now owns 21,075 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 759 shares during the last quarter. Private Capital Group LLC increased its holdings in shares of Hanesbrands by 33.9% in the 4th quarter. Private Capital Group LLC now owns 5,120 shares of the textile maker’s stock worth $64,000 after buying an additional 1,296 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Hanesbrands by 8.1% in the 4th quarter. IFM Investors Pty Ltd now owns 22,114 shares of the textile maker’s stock worth $277,000 after buying an additional 1,660 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in shares of Hanesbrands by 19.5% in the 4th quarter. Global Trust Asset Management LLC now owns 12,457 shares of the textile maker’s stock worth $156,000 after buying an additional 2,030 shares during the last quarter. Finally, Gilman Hill Asset Management LLC increased its holdings in shares of Hanesbrands by 7.5% in the 4th quarter. Gilman Hill Asset Management LLC now owns 38,974 shares of the textile maker’s stock worth $488,000 after buying an additional 2,733 shares during the last quarter.

A number of analysts have recently weighed in on the stock. Barclays set a $19.00 target price on shares of Hanesbrands and gave the stock a “hold” rating in a report on Saturday. ValuEngine upgraded shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Deutsche Bank downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $24.00 to $16.00 in a report on Friday, January 11th. Finally, Wells Fargo & Co reduced their target price on shares of Hanesbrands from $18.00 to $14.00 and set a “market perform” rating on the stock in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Hanesbrands has an average rating of “Hold” and an average price target of $20.53.

In related news, Director Jessica Tuchman Mathews sold 15,000 shares of the company’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $13.57, for a total transaction of $203,550.00. Following the transaction, the director now directly owns 139,693 shares in the company, valued at approximately $1,895,634.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald L. Nelson purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average price of $14.83 per share, for a total transaction of $296,600.00. Following the completion of the acquisition, the director now directly owns 151,683 shares in the company, valued at approximately $2,249,458.89. The disclosure for this purchase can be found here. Insiders have purchased a total of 36,600 shares of company stock worth $541,329 over the last quarter. 1.06% of the stock is currently owned by insiders.

NYSE:HBI traded up $0.28 during mid-day trading on Monday, hitting $18.12. 174,832 shares of the stock traded hands, compared to its average volume of 7,225,805. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.01 and a beta of 0.86. Hanesbrands Inc. has a 52 week low of $11.57 and a 52 week high of $22.57. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 3.64.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, February 7th. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. Hanesbrands had a net margin of 8.13% and a return on equity of 76.43%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. As a group, equities analysts forecast that Hanesbrands Inc. will post 1.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 19th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $0.60 annualized dividend and a yield of 3.31%. Hanesbrands’s payout ratio is 35.09%.

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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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