New South Capital Management Inc. Decreases Stock Position in Hanesbrands Inc. (NYSE:HBI)

New South Capital Management Inc. lessened its stake in Hanesbrands Inc. (NYSE:HBI - Free Report) by 7.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,625,824 shares of the textile maker's stock after selling 507,723 shares during the quarter. Hanesbrands comprises about 1.8% of New South Capital Management Inc.'s investment portfolio, making the stock its 19th largest holding. New South Capital Management Inc. owned about 1.88% of Hanesbrands worth $38,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HBI. GeoWealth Management LLC lifted its holdings in shares of Hanesbrands by 2,278.8% during the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock valued at $28,000 after purchasing an additional 3,327 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 acquiring an additional 2,712 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Hanesbrands during the 4th quarter worth approximately $45,000. CX Institutional bought a new stake in Hanesbrands during the first quarter worth $34,000. Finally, Lazard Asset Management LLC acquired a new stake in Hanesbrands in the 4th quarter valued at about $56,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Stock Performance

Shares of NYSE:HBI remained flat at $4.74 during trading on Friday. 2,600,081 shares of the stock were exchanged, compared to its average volume of 6,954,843. Hanesbrands Inc. has a 12 month low of $4.02 and a 12 month high of $9.10. 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 50 day moving average is $4.86 and its two-hundred day moving average is $6.01. The stock has a market capitalization of $1.67 billion, a PE ratio of -5.64 and a beta of 1.47.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.04. The business had revenue of $760.15 million during the quarter, compared to analysts' expectations of $757.42 million. Hanesbrands had a negative net margin of 8.12% and a positive return on equity of 262.15%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted ($0.02) earnings per share. On average, research analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HBI has been the topic of several research reports. Wall Street Zen raised Hanesbrands from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. UBS Group boosted their target price 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. Stifel Nicolaus dropped their price objective on Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a research 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 research note on Tuesday, May 20th. Finally, Wells Fargo & Company boosted their price target on Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Hanesbrands presently has an average rating of "Hold" and an average price target of $5.75.

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.