Hanesbrands Inc. (NYSE:HBI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,395,564 shares of the textile maker's stock after selling 163,667 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Hanesbrands worth $13,822,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted its stake 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 worth $28,000 after acquiring an additional 3,327 shares in the last quarter. CX Institutional acquired a new stake in shares of Hanesbrands in the 1st quarter worth approximately $34,000. Transce3nd LLC purchased a new position in shares of Hanesbrands during the 4th quarter worth approximately $45,000. Fifth Third Bancorp increased its stake in shares of Hanesbrands by 37.8% during the 1st quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker's stock worth $48,000 after purchasing an additional 2,267 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Hanesbrands during the 4th quarter worth approximately $56,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Up 3.5%

Hanesbrands stock traded up $0.16 during midday trading on Tuesday, hitting $4.63. 1,981,735 shares of the stock were exchanged, compared to its average volume of 6,702,295. Hanesbrands Inc. has a 1 year low of $4.02 and a 1 year high of $9.10. The firm has a market cap of $1.63 billion, a P/E ratio of -5.51 and a beta of 1.47. The company has a debt-to-equity ratio of 53.45, a current ratio of 1.55 and a quick ratio of 0.67. The company has a 50 day moving average price of $4.81 and a two-hundred day moving average price of $5.74.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. Hanesbrands had a negative net margin of 8.12% and a positive return on equity of 262.15%. The firm had revenue of $760.15 million for the quarter, compared to the consensus estimate of $757.42 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HBI has been the subject of a number of recent research reports. Wells Fargo & Company raised their price objective 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. Wall Street Zen raised shares of Hanesbrands from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Barclays set a $6.00 price objective on shares of Hanesbrands and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. UBS Group lifted 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, Stifel Nicolaus lowered 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $5.75.

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.