Bank of America Corp DE cut its position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,299,960 shares of the textile maker's stock after selling 598,831 shares during the period. Bank of America Corp DE owned 0.65% of Hanesbrands worth $18,722,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HBI. GeoWealth Management LLC increased its holdings in shares of Hanesbrands by 2,278.8% during the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock valued at $28,000 after acquiring an additional 3,327 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Hanesbrands by 122.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock valued at $40,000 after acquiring an additional 2,712 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Hanesbrands during the 4th quarter valued at about $45,000. WFA Asset Management Corp acquired a new position in shares of Hanesbrands during the 4th quarter valued at about $46,000. Finally, Allworth Financial LP increased its holdings in shares of Hanesbrands by 459.2% during the 4th quarter. Allworth Financial LP now owns 8,220 shares of the textile maker's stock valued at $69,000 after acquiring an additional 6,750 shares during the last quarter. 80.31% of the stock is owned by hedge funds and other institutional investors.
Hanesbrands Stock Performance
Shares of NYSE:HBI traded down $0.14 during trading on Friday, hitting $4.90. 4,487,586 shares of the stock were exchanged, compared to its average volume of 7,148,718. Hanesbrands Inc. has a 1-year low of $4.02 and a 1-year high of $9.10. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -5.33 and a beta of 1.50. The company's fifty day simple moving average is $5.04 and its 200-day simple moving average is $6.78. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37.
Hanesbrands (NYSE:HBI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The company had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. During the same quarter last year, the firm earned ($0.02) EPS. Hanesbrands's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Wall Street Zen raised Hanesbrands from a "hold" rating to a "buy" rating in a report on Thursday. Wells Fargo & Company raised their target price on Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a report on Wednesday, May 14th. Stifel Nicolaus lowered their target price on Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays set a $6.00 target price on Hanesbrands and gave the company an "equal weight" rating in a report on Tuesday. Finally, UBS Group raised their target price on Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Hanesbrands currently has an average rating of "Hold" and a consensus target price of $5.60.
Read Our Latest Stock Report on HBI
About Hanesbrands
(
Free Report)
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.
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