[SCHEDULE 13G] Hanesbrands Inc. SEC Filing
Loews Corporation reports beneficial ownership of 31,900,000 shares of Hanesbrands Inc., representing 9.0% of the outstanding common stock. The shares are held with sole voting and dispositive power and the filing amends a prior Schedule 13D to state the position is no longer held for the purpose of changing or influencing control, and is being reported on Schedule 13G accordingly. The filing identifies Loews as a Delaware corporation and provides its principal address. No other parties or group members are disclosed and the filer certifies the holdings were not acquired to influence control.
- Material, clearly disclosed stake: Loews reports ownership of 31,900,000 shares (9.0%), providing transparency to the market.
- Sole voting and dispositive power: The filer holds exclusive control over voting and disposition of the reported shares, simplifying governance clarity.
- Amendment to passive status: The prior Schedule 13D is replaced by a Schedule 13G, indicating the position is now reported as not intended to influence control.
- None.
Insights
TL;DR: A large 9% stake held with sole voting power shifted to a passive 13G disclosure, reducing activist control concerns.
Loews' 9.0% position is material for Hanesbrands given its size and the fact Loews holds sole voting and dispositive power over all 31.9 million shares. Converting the prior 13D into a 13G indicates the filer characterizes the stake as passive and not intended to change or influence control. For investors this reduces the probability of imminent governance or strategic changes initiated by Loews, though the holding remains large enough to matter in contested votes or takeover scenarios.
TL;DR: The amendment from a 13D to a 13G signals a change in intent to passive ownership, lowering near-term activist risk.
Filing as a Schedule 13G to replace a prior Schedule 13D is a formal acknowledgment that the position is not held to influence control. The declaration and certification reduce regulatory ambiguity about Loews' intentions but do not change the economic reality of a significant 9% stake. Shareholders and the board should note the stake size for governance dynamics, while recognizing the filer disclaims activist intent in this statement.