Hanesbrands Inc. (NYSE:HBI) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its stake in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,960,600 shares of the textile maker's stock after selling 680,500 shares during the quarter. Hanesbrands comprises approximately 1.3% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 20th largest holding. Hennessy Advisors Inc. owned about 1.97% of Hanesbrands worth $40,163,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Hanesbrands by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker's stock worth $325,884,000 after buying an additional 421,915 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Hanesbrands by 28.2% in the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker's stock valued at $81,009,000 after acquiring an additional 2,189,844 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Hanesbrands by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker's stock worth $56,245,000 after buying an additional 171,918 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Hanesbrands by 60.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker's stock valued at $44,715,000 after purchasing an additional 2,069,315 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Hanesbrands by 147.7% in the 4th quarter. American Century Companies Inc. now owns 5,362,455 shares of the textile maker's stock valued at $43,650,000 after acquiring an additional 3,197,544 shares during the last quarter. Institutional investors own 80.31% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on HBI. Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company raised their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their price target on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. UBS Group boosted their price target on Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Hanesbrands currently has an average rating of "Hold" and a consensus target price of $5.75.

Hanesbrands Stock Performance

HBI traded down $0.10 during trading on Tuesday, reaching $4.59. 4,001,694 shares of the company's stock were exchanged, compared to its average volume of 6,712,440. Hanesbrands Inc. has a 1 year low of $4.02 and a 1 year high of $9.10. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The stock has a market capitalization of $1.62 billion, a P/E ratio of -4.99 and a beta of 1.51. The company's fifty day simple moving average is $4.85 and its 200-day simple moving average is $6.39.

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