Cooke & Bieler LP Sells 86,998 Shares of Hanesbrands Inc. (NYSE:HBI)

Cooke & Bieler LP lessened its position in Hanesbrands Inc. (NYSE:HBI - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,400,840 shares of the textile maker's stock after selling 86,998 shares during the period. Cooke & Bieler LP owned about 4.36% of Hanesbrands worth $88,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HBI. GeoWealth Management LLC lifted its stake in shares of Hanesbrands by 2,278.8% in 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 in the last quarter. CX Institutional bought a new position in Hanesbrands during the first quarter valued at approximately $34,000. Transce3nd LLC bought a new position in Hanesbrands during the fourth quarter valued at approximately $45,000. Fifth Third Bancorp lifted its position in Hanesbrands by 37.8% during the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker's stock valued at $48,000 after purchasing an additional 2,267 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Hanesbrands during the fourth quarter valued at approximately $56,000. Institutional investors own 80.31% of the company's stock.

Hanesbrands Price Performance

Shares of NYSE:HBI traded down $0.04 during midday trading on Friday, reaching $4.52. 4,169,331 shares of the company were exchanged, compared to its average volume of 6,779,895. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 53.45. The business's fifty day moving average is $4.82 and its two-hundred day moving average is $5.80. Hanesbrands Inc. has a one year low of $4.02 and a one year high of $9.10. The stock has a market cap of $1.60 billion, a PE ratio of -5.38 and a beta of 1.47.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $757.42 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Hanesbrands's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HBI shares. UBS Group increased their price objective on shares of Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Barclays set a $6.00 price objective on shares of Hanesbrands and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. 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 report on Thursday, April 10th. Finally, Wells Fargo & Company upped their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Hanesbrands 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.