Hanesbrands Inc. (NYSE:HBI) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in Hanesbrands Inc. (NYSE:HBI) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,938 shares of the textile maker’s stock after selling 2,475 shares during the period. OLD National Bancorp IN’s holdings in Hanesbrands were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners lifted its position in Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after buying an additional 3,618 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in Hanesbrands in the first quarter valued at $35,000. Rothschild Investment LLC purchased a new stake in Hanesbrands in the second quarter valued at $39,000. Blue Trust Inc. raised its position in Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 1,594 shares during the period. Finally, Hollencrest Capital Management purchased a new stake in Hanesbrands in the first quarter valued at $41,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of NYSE HBI opened at $6.85 on Thursday. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The stock has a fifty day moving average price of $6.78 and a 200 day moving average price of $5.67. Hanesbrands Inc. has a 1-year low of $3.58 and a 1-year high of $7.57. The company has a market cap of $2.41 billion, a PE ratio of -114.17 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS 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 company had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned ($0.01) earnings per share. Hanesbrands’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that Hanesbrands Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays lifted their target price on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. UBS Group lifted their target price on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus increased their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands has a consensus rating of “Hold” and an average price target of $5.80.

Hanesbrands Company Profile

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.