Ameriprise Financial Inc. Sells 2,988,156 Shares of Hanesbrands Inc. $HBI

Key Points

• Ameriprise Financial Inc. reduced its holdings in Hanesbrands Inc. by 30% in the first quarter, now owning approximately 6.96 million shares valued at $40.18 million.
• Several institutional investors, including Vanguard Group and American Century Companies, increased their stakes in Hanesbrands, with Vanguard now holding over 41 million shares.
• Analyst ratings for Hanesbrands show a consensus of "Hold" with an average price target of $6.50, while recent upgrades from UBS and Wells Fargo suggest a more optimistic outlook.

Ameriprise Financial Inc. decreased its stake in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 30.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,963,792 shares of the textile maker's stock after selling 2,988,156 shares during the period. Ameriprise Financial Inc. owned 1.97% of Hanesbrands worth $40,181,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Stoneridge Investment Partners LLC bought a new stake in shares of Hanesbrands during the first quarter worth approximately $102,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Hanesbrands in the 1st quarter valued at $67,000. Quantbot Technologies LP boosted its stake in Hanesbrands by 225.3% in the 1st quarter. Quantbot Technologies LP now owns 132,243 shares of the textile maker's stock valued at $763,000 after purchasing an additional 91,587 shares during the period. American Century Companies Inc. boosted its stake in Hanesbrands by 40.8% in the 1st quarter. American Century Companies Inc. now owns 7,547,938 shares of the textile maker's stock valued at $43,552,000 after purchasing an additional 2,185,483 shares during the period. Finally, KLCM Advisors Inc. boosted its position in shares of Hanesbrands by 11.5% in the first quarter. KLCM Advisors Inc. now owns 1,107,400 shares of the textile maker's stock valued at $6,390,000 after acquiring an additional 114,148 shares during the period. Institutional investors own 80.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HBI shares. Wells Fargo & Company raised shares of Hanesbrands from a "strong sell" rating to an "equal weight" rating and boosted their price objective for the company from $5.00 to $6.00 in a report on Thursday, August 14th. UBS Group boosted their price target on Hanesbrands from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Hanesbrands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Barclays set a $6.00 price target on Hanesbrands and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.50.

Hanesbrands Price Performance

Shares of HBI stock traded up $0.04 on Wednesday, hitting $6.14. 4,456,845 shares of the company's stock were exchanged, compared to its average volume of 14,597,221. The company has a debt-to-equity ratio of 13.62, a current ratio of 1.52 and a quick ratio of 0.74. Hanesbrands Inc. has a 12 month low of $3.96 and a 12 month high of $9.10. The stock has a market cap of $2.17 billion, a P/E ratio of 25.56 and a beta of 1.42. The company has a 50 day moving average of $5.13 and a 200 day moving average of $5.17.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $991.33 million during the quarter, compared to the consensus estimate of $971.93 million. Hanesbrands had a return on equity of 226.31% and a net margin of 2.49%.Hanesbrands's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. Hanesbrands has set its Q3 2025 guidance at 0.160-0.160 EPS. FY 2025 guidance at 0.660-0.660 EPS. On average, equities research analysts predict that Hanesbrands Inc. will post 0.53 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.