Bank of America Corp DE Reduces Position in Hanesbrands Inc. (NYSE:HBI)

Bank of America Corp DE decreased its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 approximately 0.65% of Hanesbrands worth $18,722,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC raised its holdings in Hanesbrands by 2,278.8% during the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock worth $28,000 after buying an additional 3,327 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock worth $40,000 after buying an additional 2,712 shares during the last quarter. Transce3nd LLC acquired a new position in Hanesbrands during the fourth quarter worth $45,000. WFA Asset Management Corp acquired a new position in Hanesbrands during the fourth quarter worth $46,000. Finally, Allworth Financial LP grew its stake in shares of Hanesbrands by 459.2% in the 4th quarter. Allworth Financial LP now owns 8,220 shares of the textile maker's stock worth $69,000 after acquiring an additional 6,750 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HBI. Wells Fargo & Company upped their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. Stifel Nicolaus reduced their target price on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Barclays set a $6.00 target price on shares of Hanesbrands and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. UBS Group upped their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $5.60.

Hanesbrands Stock Performance

HBI traded down $0.14 during trading on Monday, hitting $4.90. 4,487,586 shares of the company traded hands, compared to its average volume of 7,161,292. The firm has a market cap of $1.73 billion, a P/E ratio of -5.33 and a beta of 1.50. The stock's fifty day moving average is $5.01 and its 200 day moving average is $6.75. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a one year low of $4.02 and a one year high of $9.10.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $760.15 million during the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current fiscal 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.