Buckingham Capital Management Inc buys $26,794,775 stake in Hanesbrands (HBI)

Hanesbrands (HBI) : Buckingham Capital Management Inc scooped up 50,000 additional shares in Hanesbrands during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 938,521 shares of Hanesbrands which is valued at $26,794,775.Hanesbrands makes up approximately 1.55% of Buckingham Capital Management Inc’s portfolio.

Hanesbrands opened for trading at $29.59 and hit $30.09 on the upside on Friday, eventually ending the session at $28.55, with a gain of 1.31% or 0.37 points. The heightened volatility saw the trading volume jump to 70,08,913 shares. Company has a market cap of $11,182 M.

Other Hedge Funds, Including , Sit Investment Associates Inc added HBI to its portfolio by purchasing 165,070 company shares during the most recent quarter which is valued at $4,590,597. Hanesbrands makes up approx 0.08% of Sit Investment Associates Inc’s portfolio.Benjamin F. Edwards Company reduced its stake in HBI by selling 1,947 shares or 65.89% in the most recent quarter. The Hedge Fund company now holds 1,008 shares of HBI which is valued at $28,032. Hanesbrands makes up approx 0.01% of Benjamin F. Edwards Company’s portfolio.Central Trust Co boosted its stake in HBI in the latest quarter, The investment management firm added 23,612 additional shares and now holds a total of 44,448 shares of Hanesbrands which is valued at $1,236,099. Hanesbrands makes up approx 0.10% of Central Trust Co’s portfolio.

On the company’s financial health, Hanesbrands reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.22. The company had revenue of $1219.10 million for the quarter, compared to analysts expectations of $1211.98 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Hanesbrands. Shares were Reiterated by UBS on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 35 from a previous price target of $42 .

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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