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Is it Still Safe to Invest in Hanesbrands (HBI)?

·2 min read

Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Chartwell Investment Partners mentioned Hanesbrands Inc. (NYSE:HBI) and explained its insights for the company. Founded in 1901, Hanesbrands Inc. (NYSE:HBI) is a Winston-Salem, North Carolina-based multinational clothing company with a $2.7 billion market capitalization. Hanesbrands Inc. (NYSE:HBI) delivered a -52.15% return since the beginning of the year, while its 12-month returns are down by -57.06%. The stock closed at $8.00 per share on September 22, 2022.

Here is what Chartwell Investment Partners has to say about Hanesbrands Inc. (NYSE:HBI) in its Q2 2022 investor letter:

"The three worst-performing stocks in the Dividend Equity accounts includes Hanesbrands (NYSE:HBI, 1.1%), down 30.1%. Hanesbrands’ management is executing well, but the challenging environment includes supply-chain headwinds, higher input costs and some post-Covid inventory build-up."

Andrea Meling/Shutterstock.com

Our calculations show that Hanesbrands Inc. (NYSE:HBI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Hanesbrands Inc. (NYSE:HBI) was in 18 hedge fund portfolios at the end of the second quarter of 2022, compared to 23 funds in the previous quarter. Hanesbrands Inc. (NYSE:HBI) delivered a -22.25% return in the past 3 months.

In July 2022, we also shared another hedge fund’s views on Hanesbrands Inc. (NYSE:HBI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.