Stock Traders Purchase Large Volume of Call Options on Hanesbrands (NYSE:HBI)

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Hanesbrands Inc. (NYSE:HBI) saw some unusual options trading on Thursday. Investors acquired 11,743 call options on the stock. This represents an increase of 1,067% compared to the typical volume of 1,006 call options.

In other news, Director Ann Elizabeth Ziegler sold 12,947 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $15.90, for a total value of $205,857.30. Following the sale, the director now directly owns 43,085 shares of the company’s stock, valued at $685,051.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider W Howard Upchurch, Jr. sold 71,147 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $17.06, for a total transaction of $1,213,767.82. Following the completion of the transaction, the insider now owns 544,057 shares of the company’s stock, valued at $9,281,612.42. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd purchased a new position in shares of Hanesbrands in the third quarter worth $27,000. Parkside Financial Bank & Trust grew its holdings in Hanesbrands by 95.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,714 shares of the textile maker’s stock worth $31,000 after acquiring an additional 1,326 shares during the last quarter. Anderson Fisher LLC bought a new position in shares of Hanesbrands during the third quarter valued at about $36,000. NuWave Investment Management LLC boosted its holdings in shares of Hanesbrands by 45.4% during the second quarter. NuWave Investment Management LLC now owns 3,479 shares of the textile maker’s stock worth $37,000 after purchasing an additional 1,087 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in shares of Hanesbrands by 420.2% in the third quarter. Cornerstone Advisors Inc. now owns 2,570 shares of the textile maker’s stock worth $40,000 after purchasing an additional 2,076 shares during the last quarter. Hedge funds and other institutional investors own 93.72% of the company’s stock.

Shares of Hanesbrands stock opened at $12.85 on Friday. The company has a debt-to-equity ratio of 3.69, a quick ratio of 1.04 and a current ratio of 2.01. Hanesbrands has a 52-week low of $6.96 and a 52-week high of $17.74. The company has a fifty day moving average of $16.46 and a 200-day moving average of $13.37. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 3.37 and a beta of 1.62.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, November 5th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. Hanesbrands had a return on equity of 55.54% and a net margin of 7.88%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Hanesbrands will post 1.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.60 dividend on an annualized basis and a yield of 4.67%. Hanesbrands’s dividend payout ratio (DPR) is currently 34.09%.

HBI has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Hanesbrands from a “strong-buy” rating to a “sell” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, September 30th. ValuEngine downgraded Hanesbrands from a “sell” rating to a “strong sell” rating in a research report on Friday. Bank of America upgraded shares of Hanesbrands from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $8.50 to $14.00 in a research report on Wednesday, July 15th. B. Riley raised their target price on shares of Hanesbrands from $16.00 to $18.00 in a research note on Wednesday, August 19th. Finally, Credit Suisse Group raised shares of Hanesbrands from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $13.00 to $15.00 in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Hanesbrands presently has a consensus rating of “Hold” and an average target price of $13.95.

Hanesbrands Company Profile

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 men’s underwear, women’s panties, children’s underwear, activewear, socks, and hosiery, as well as intimate apparel, such as bras and shapewears; 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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