Hennessy Advisors Inc. Decreases Stake in Hanesbrands Inc. (NYSE:HBI)

Hennessy Advisors Inc. reduced its position in Hanesbrands Inc. (NYSE:HBI - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,960,600 shares of the textile maker's stock after selling 680,500 shares during the quarter. Hanesbrands accounts for approximately 1.3% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 20th largest holding. Hennessy Advisors Inc. owned approximately 1.97% of Hanesbrands worth $40,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 purchasing an additional 421,915 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Hanesbrands by 28.2% during 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hanesbrands by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker's stock valued at $56,245,000 after acquiring an additional 171,918 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Hanesbrands by 60.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker's stock valued at $44,715,000 after acquiring an additional 2,069,315 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Hanesbrands by 147.7% during the fourth 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 in the last quarter. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Stock Performance

NYSE:HBI traded down $0.21 during midday trading on Friday, hitting $4.57. The company's stock had a trading volume of 3,585,046 shares, compared to its average volume of 7,039,821. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10. The firm's 50 day moving average is $4.84 and its 200-day moving average is $6.45. 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 firm has a market cap of $1.61 billion, a P/E ratio of -4.96 and a beta of 1.51.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 EPS 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 business had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HBI has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Stifel Nicolaus cut their price objective 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. Barclays set a $6.00 price objective on shares of Hanesbrands and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Wells Fargo & Company increased their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Finally, UBS Group increased their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Hanesbrands presently has a consensus rating of "Hold" and an average target price of $5.75.

Hanesbrands Profile

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.