Advisors Asset Management Inc. Decreases Holdings in Hanesbrands Inc. (NYSE:HBI)

Advisors Asset Management Inc. reduced its position in Hanesbrands Inc. (NYSE:HBI) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,611 shares of the textile maker’s stock after selling 7,459 shares during the period. Advisors Asset Management Inc.’s holdings in Hanesbrands were worth $438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new position in shares of Hanesbrands in the second quarter valued at $39,000. Blue Trust Inc. increased its holdings in Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Hanesbrands in the second quarter valued at about $51,000. Whittier Trust Co. acquired a new stake in shares of Hanesbrands in the third quarter valued at approximately $51,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Hanesbrands during the 2nd quarter worth approximately $55,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Price Performance

HBI stock opened at $8.75 on Thursday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -13.25 and a beta of 1.58. 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 Inc. has a 52-week low of $3.58 and a 52-week high of $9.10. The stock’s fifty day simple moving average is $7.45 and its 200-day simple moving average is $6.19.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HBI shares. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $11.00 in a research note on Tuesday. Barclays upped their price objective on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus lifted their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.90.

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.