Todays Report: The Principal Financial Group Inc. cuts its investment of stake in HanesBrands Inc. (HBI)

The Principal Financial Group Inc. cuts its investment of stake in HanesBrands Inc. (HBI)

Principal Financial Group Inc. lowered its position in HanesBrands Inc. (NYSE:HBI) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 576,144 shares of the company’s stock after selling 6,185 shares during the period. Principal Financial Group Inc. owned 0.15% of HanesBrands worth $14,478,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Associated Banc Corp acquired a new stake in shares of HanesBrands during the first quarter worth $3,612,000. Aviva PLC increased its stake in shares of HanesBrands by 1.5% in the first quarter. Aviva PLC now owns 454,561 shares of the company’s stock valued at $12,882,000 after buying an additional 6,700 shares in the last quarter. ING Groep NV purchased a new stake in shares of HanesBrands during the first quarter valued at approximately $255,000. Landscape Capital Management L.L.C. increased its stake in shares of HanesBrands by 436.3% in the first quarter. Landscape Capital Management L.L.C. now owns 64,350 shares of the company’s stock valued at $1,824,000 after buying an additional 52,350 shares in the last quarter. Finally, Advisor Partners LLC increased its stake in shares of HanesBrands by 9.1% in the first quarter. Advisor Partners LLC now owns 7,717 shares of the company’s stock valued at $219,000 after buying an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Shares of HanesBrands Inc. (NYSE:HBI) traded down 1.09% during midday trading on Friday, hitting $25.30. 2,837,781 shares of the stock traded hands. HanesBrands Inc. has a 52 week low of $23.25 and a 52 week high of $33.24. The firm has a market capitalization of $9.56 billion, a PE ratio of 20.30 and a beta of 0.94. The company’s 50-day moving average is $26.24 and its 200 day moving average is $26.83.

HanesBrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The business earned $1.47 billion during the quarter, compared to analysts’ expectations of $1.53 billion. HanesBrands had a return on equity of 59.48% and a net margin of 8.60%. HanesBrands’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Analysts anticipate that HanesBrands Inc. will post $1.92 earnings per share for the current year.

Several analysts have recently commented on HBI shares. Brean Capital restated a “buy” rating and issued a $37.00 target price on shares of HanesBrands in a research note on Tuesday, June 14th. Nomura restated a “sell” rating and issued a $31.00 target price on shares of HanesBrands in a research note on Wednesday, July 6th. FBR & Co restated an “outperform” rating and issued a $39.00 target price on shares of HanesBrands in a research note on Thursday, July 7th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $35.00 target price on shares of HanesBrands in a research note on Tuesday, August 2nd. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $37.00 target price on shares of HanesBrands in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $34.14.

In other HanesBrands news, CEO Richard A. Noll acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were acquired at an average price of $25.74 per share, for a total transaction of $514,800.00. Following the completion of the acquisition, the chief executive officer now owns 870,077 shares in the company, valued at $22,395,781.98. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

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