Chieftain Capital Management buys $320,047,105 stake in Hanesbrands (HBI)

Hanesbrands (HBI) : Chieftain Capital Management scooped up 1,822,840 additional shares in Hanesbrands during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 11,805,500 shares of Hanesbrands which is valued at $320,047,105.Hanesbrands makes up approximately 16.29% of Chieftain Capital Management’s portfolio.

Other Hedge Funds, Including , Gotham Asset Management sold out all of its stake in HBI during the most recent quarter. The investment firm sold 450,110 shares of HBI which is valued $12,202,482.Thrivent Financial For Lutherans boosted its stake in HBI in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 11,600 shares of Hanesbrands which is valued at $314,476. Dorsey Wright Associates sold out all of its stake in HBI during the most recent quarter. The investment firm sold 51,969 shares of HBI which is valued $1,396,407.Ibm Retirement Fund reduced its stake in HBI by selling 2,702 shares or 5.7% in the most recent quarter. The Hedge Fund company now holds 44,677 shares of HBI which is valued at $1,200,471. Hanesbrands makes up approx 0.04% of Ibm Retirement Fund’s portfolio.Farmers Merchants Investments Inc boosted its stake in HBI in the latest quarter, The investment management firm added 67,135 additional shares and now holds a total of 68,632 shares of Hanesbrands which is valued at $1,854,437. Hanesbrands makes up approx 0.20% of Farmers Merchants Investments Inc’s portfolio.

Hanesbrands closed down -0.02 points or -0.08% at $26.52 with 20,33,910 shares getting traded on Thursday. Post opening the session at $26.53, the shares hit an intraday low of $26.3 and an intraday high of $26.63 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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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