Following a challenging year marked by a 36% loss, Hanesbrands Inc. (NYSE:HBI) has recently witnessed a potential turnaround with a gain of 5.7%, indicating a possible recovery. This shift in performance comes in the wake of substantial backing from institutional investors who hold around 84% of the company's shares, with eight major investors controlling a 52% majority stake.
BlackRock (NYSE:BLK), Inc., the largest shareholder, holds a significant 16% stake in Hanesbrands. The second and third largest shareholders follow closely, owning 11% and 6.8% of shares respectively. Combined with other top investors, they account for over half of Hanesbrands' total shares. These institutional investors often use benchmark indexes to compare returns, lending credibility to the company's performance.
Private companies hold a minor 5.4% stake in Hanesbrands, while the general public owns 10% of the company's shares. Interestingly, insider ownership is less than 1%, equivalent to US$6.9m worth of shares. This aligns board members' interests with those of the shareholders', though it also potentially concentrates power within a small group in the company.
The blend of ownership data and analyst forecasts provides useful insights into Hanesbrands' future performance. Despite recent setbacks, the significant stake held by institutional investors and their continued support signals potential for recovery in the coming periods.
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