Moran Wealth Management LLC Has $3.66 Million Stock Position in Hanesbrands Inc. (NYSE:HBI)

Moran Wealth Management LLC decreased its stake in Hanesbrands Inc. (NYSE:HBI - Free Report) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 633,604 shares of the textile maker's stock after selling 116,499 shares during the quarter. Moran Wealth Management LLC owned approximately 0.18% of Hanesbrands worth $3,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its position in 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 acquiring an additional 3,327 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock valued at $40,000 after purchasing an additional 2,712 shares during the last quarter. Transce3nd LLC bought a new stake in Hanesbrands in the fourth quarter worth $45,000. CX Institutional acquired a new position in Hanesbrands during the first quarter worth $34,000. Finally, Lazard Asset Management LLC bought a new position in Hanesbrands during the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 80.31% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays set a $6.00 price target on Hanesbrands and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded Hanesbrands from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. UBS Group boosted their price objective 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. Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company lifted their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.75.

Hanesbrands Stock Performance

Shares of HBI stock traded up $0.11 during trading hours on Thursday, reaching $4.61. 3,799,486 shares of the company's stock were exchanged, compared to its average volume of 6,966,367. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 53.45. The stock has a market capitalization of $1.63 billion, a P/E ratio of -5.48 and a beta of 1.51. The business has a fifty day moving average price of $4.84 and a 200-day moving average price of $6.22.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, beating 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 the consensus estimate of $757.42 million. During the same period in the prior year, the firm earned ($0.02) EPS. The business's revenue was up 2.1% on a year-over-year basis. Analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Hanesbrands Company 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.