Hennessy Advisors Inc. Sells 692,000 Shares of Hanesbrands Inc. $HBI

Key Points

• Hennessy Advisors Inc. reduced its stake in Hanesbrands Inc. by 9.9%, selling 692,000 shares during the second quarter, leaving them with 6,268,600 shares worth approximately $28.7 million.
• Hanesbrands reported earnings of $0.24 per share, exceeding expectations, with a revenue of $991.33 million, beating analyst estimates by a significant margin.
• Institutional investors own 80.31% of Hanesbrands stock, with several firms adjusting their positions during the first quarter, notably GAMMA Investing LLC increasing its stake by 503.9%.

Hennessy Advisors Inc. lessened its holdings in Hanesbrands Inc. (NYSE:HBI - Free Report) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,268,600 shares of the textile maker's stock after selling 692,000 shares during the quarter. Hennessy Advisors Inc. owned 1.78% of Hanesbrands worth $28,710,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HBI. GAMMA Investing LLC lifted its position in shares of Hanesbrands by 503.9% in the first quarter. GAMMA Investing LLC now owns 40,275 shares of the textile maker's stock worth $2,320,000 after purchasing an additional 33,606 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Hanesbrands by 9.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 26,288 shares of the textile maker's stock valued at $152,000 after acquiring an additional 2,255 shares during the last quarter. OLD National Bancorp IN lifted its stake in Hanesbrands by 20.3% in the first quarter. OLD National Bancorp IN now owns 41,503 shares of the textile maker's stock valued at $239,000 after acquiring an additional 6,996 shares during the last quarter. CX Institutional acquired a new stake in Hanesbrands in the first quarter valued at $34,000. Finally, Fifth Third Bancorp lifted its stake in Hanesbrands by 37.8% in the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker's stock valued at $48,000 after acquiring an additional 2,267 shares during the last quarter. Institutional investors own 80.31% of the company's stock.

Hanesbrands Price Performance

Shares of HBI opened at $6.92 on Friday. The firm has a market capitalization of $2.45 billion, a PE ratio of 28.81 and a beta of 1.47. The company's 50-day moving average is $5.95 and its 200-day moving average is $5.25. Hanesbrands Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $9.10. The company has a debt-to-equity ratio of 13.62, a current ratio of 1.52 and a quick ratio of 0.74.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The textile maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $991.33 million for the quarter, compared to analyst estimates of $971.93 million. Hanesbrands had a net margin of 2.49% and a return on equity of 226.31%. The company's revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. Hanesbrands has set its Q3 2025 guidance at 0.160-0.160 EPS. FY 2025 guidance at 0.660-0.660 EPS. Equities analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on HBI shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Hanesbrands in a research note on Saturday, September 27th. Wells Fargo & Company upgraded shares of Hanesbrands from a "strong sell" rating to an "equal weight" rating and increased their price target for the company from $5.00 to $6.00 in a research note on Thursday, August 14th. Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, UBS Group increased their price target on shares of Hanesbrands from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $6.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.