M&T Bank Corp Sells 4,907 Shares of Hanesbrands Inc. (NYSE:HBI)

M&T Bank Corp reduced its stake in Hanesbrands Inc. (NYSE:HBI) by 27.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,060 shares of the textile maker’s stock after selling 4,907 shares during the period. M&T Bank Corp’s holdings in Hanesbrands were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Loews Corp lifted its position in shares of Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock valued at $143,945,000 after acquiring an additional 15,206,007 shares during the period. Dimensional Fund Advisors LP grew its stake in Hanesbrands by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after buying an additional 1,024,308 shares in the last quarter. Verition Fund Management LLC bought a new position in Hanesbrands in the 3rd quarter valued at about $7,249,000. BNP Paribas Financial Markets lifted its holdings in shares of Hanesbrands by 388.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock worth $5,456,000 after acquiring an additional 590,493 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Hanesbrands by 193.4% during the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock worth $4,112,000 after acquiring an additional 549,855 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Performance

NYSE HBI opened at $8.23 on Friday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -12.47 and a beta of 1.64. Hanesbrands Inc. has a twelve month low of $3.88 and a twelve month high of $9.10. The stock has a fifty day simple moving average of $7.96 and a 200 day simple moving average of $6.62. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Sell-side analysts expect that Hanesbrands Inc. will post 0.39 EPS for the current year.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.