Channing Capital Management Lowers stake in Hanesbrands (HBI)

Hanesbrands (HBI) : Channing Capital Management reduced its stake in Hanesbrands by 2.09% during the most recent quarter end. The investment management company now holds a total of 819,062 shares of Hanesbrands which is valued at $20,484,741 after selling 17,480 shares in Hanesbrands , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Hanesbrands makes up approximately 0.82% of Channing Capital Management’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in HBI by selling 998 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 70,315 shares of HBI which is valued at $1,758,578. Hanesbrands makes up approx 0.01% of Aberdeen Asset Management Plcuk’s portfolio.Standard Life Investments Ltd reduced its stake in HBI by selling 581,810 shares or 4.18% in the most recent quarter. The Hedge Fund company now holds 13,335,194 shares of HBI which is valued at $347,648,508. Hanesbrands makes up approx 1.52% of Standard Life Investments Ltd’s portfolio.Train Babcock Advisors reduced its stake in HBI by selling 698 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 176,137 shares of HBI which is valued at $4,732,801. Hanesbrands makes up approx 1.81% of Train Babcock Advisors’s portfolio.Highland Capital Management reduced its stake in HBI by selling 70 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 48,018 shares of HBI which is valued at $1,297,446. Hanesbrands makes up approx 0.11% of Highland Capital Management’s portfolio.Central Bank Trust Co reduced its stake in HBI by selling 32,791 shares or 23.96% in the most recent quarter. The Hedge Fund company now holds 104,054 shares of HBI which is valued at $2,780,323. Hanesbrands makes up approx 0.78% of Central Bank Trust Co’s portfolio.

Hanesbrands opened for trading at $25.16 and hit $25.47 on the upside on Thursday, eventually ending the session at $25.29, with a gain of 1.12% or 0.28 points. The heightened volatility saw the trading volume jump to 44,67,987 shares. Company has a market cap of $9,547 M.

On the company’s financial health, Hanesbrands reported $0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.52. The company had revenue of $1470.00 million for the quarter, compared to analysts expectations of $1530.65 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Investors should note that on Jul 26, 2016, Hanesbrands announced a cash dividend of $0.1100. The company’s management has announced Aug 12, 2016 as the ex-dividend date and fixed the record date on Aug 16, 2016. The payable date has been fixed on Sep 7, 2016.

Hanesbrands Inc. is a manufacturer and marketer of apparel. The Company operates through four segments: Innerwear Activewear Direct to Consumer and International. The Company’s innerwear and activewear apparel brands include Hanes Champion Bali Playtex Maidenform JMS/Just My Size L’eggs Flexees barely there Wonderbra Gear for Sports and Lilyette. Its international brands also include DIM Nur Die/Nur Der Zorba Rinbros and Shock Absorber among others. The Company’s Innerwear segment focuses on apparel products such as intimate apparel men’s underwear children’s underwear and socks. In the activewear market it sells products such as T-shirts and fleece to both retailers and wholesalers. Its Direct to Consumer operations include its domestic Company-operated outlet stores catalogs and Website operations that sell its branded products to consumers in the United States. The Company’s international markets are Europe Canada Japan Mexico Brazil and Australia.

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