Hanesbrands Inc. (NYSE:HBI) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in Hanesbrands Inc. (NYSE:HBI) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,887 shares of the textile maker’s stock after selling 12,269 shares during the period. Hsbc Holdings PLC’s holdings in Hanesbrands were worth $493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after purchasing an additional 1,362,140 shares in the last quarter. Loews Corp raised its holdings in shares of Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of Hanesbrands by 2.1% in the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock worth $80,506,000 after acquiring an additional 342,056 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after acquiring an additional 1,024,308 shares in the last quarter. Finally, Morningstar Investment Services LLC boosted its stake in shares of Hanesbrands by 93.1% during the fourth quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock valued at $19,051,000 after acquiring an additional 2,069,204 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Stock Up 1.0 %

Shares of HBI opened at $7.36 on Tuesday. Hanesbrands Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $7.40. The company’s fifty day moving average is $6.24 and its two-hundred day moving average is $5.43. The firm has a market cap of $2.59 billion, a PE ratio of -122.50 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The firm had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HBI shares. UBS Group boosted their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Barclays boosted their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Hanesbrands in a research report on Thursday, June 6th. Finally, Stifel Nicolaus boosted their price target on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.80.

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.