Suncoast Equity Management buys $8.5 Million stake in Hanesbrands (HBI)

Hanesbrands (HBI) : Suncoast Equity Management scooped up 25,425 additional shares in Hanesbrands during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 317,315 shares of Hanesbrands which is valued at $8.5 Million.Hanesbrands makes up approximately 3.27% of Suncoast Equity Management’s portfolio.

Other Hedge Funds, Including , Penn Capital Management Co Inc boosted its stake in HBI in the latest quarter, The investment management firm added 7,457 additional shares and now holds a total of 63,503 shares of Hanesbrands which is valued at $1.7 Million. Hanesbrands makes up approx 0.10% of Penn Capital Management Co Inc’s portfolio. Bessemer Group Inc sold out all of its stake in HBI during the most recent quarter. The investment firm sold 54 shares of HBI which is valued $1,453.Bahl Gaynor Inc boosted its stake in HBI in the latest quarter, The investment management firm added 1,534 additional shares and now holds a total of 31,307 shares of Hanesbrands which is valued at $842,158. Hanesbrands makes up approx 0.01% of Bahl Gaynor Inc’s portfolio.Airain Ltd reduced its stake in HBI by selling 56,638 shares or 39.22% in the most recent quarter. The Hedge Fund company now holds 87,755 shares of HBI which is valued at $2.4 Million. Hanesbrands makes up approx 0.17% of Airain Ltd’s portfolio.Aperio Group boosted its stake in HBI in the latest quarter, The investment management firm added 11,275 additional shares and now holds a total of 82,906 shares of Hanesbrands which is valued at $2.4 Million. Hanesbrands makes up approx 0.02% of Aperio Group’s portfolio.

Hanesbrands opened for trading at $27.09 and hit $27.605 on the upside on Friday, eventually ending the session at $27.52, with a gain of 1.96% or 0.53 points. The heightened volatility saw the trading volume jump to 28,74,500 shares. Company has a market cap of $10,389 M.

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.

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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