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

New South Capital Management Inc. decreased its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,625,824 shares of the textile maker's stock after selling 507,723 shares during the quarter. Hanesbrands makes up approximately 1.8% of New South Capital Management Inc.'s portfolio, making the stock its 19th biggest position. New South Capital Management Inc. owned approximately 1.88% of Hanesbrands worth $38,231,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of HBI. Hsbc Holdings PLC boosted its stake in shares of Hanesbrands by 175.7% during the fourth quarter. Hsbc Holdings PLC now owns 276,547 shares of the textile maker's stock worth $2,283,000 after buying an additional 176,238 shares during the period. Trexquant Investment LP boosted its holdings in Hanesbrands by 395.1% in the 4th quarter. Trexquant Investment LP now owns 548,724 shares of the textile maker's stock valued at $4,467,000 after purchasing an additional 437,895 shares in the last quarter. Schroder Investment Management Group acquired a new position in Hanesbrands during the 4th quarter worth approximately $980,000. Taika Capital LP purchased a new position in shares of Hanesbrands during the 4th quarter worth approximately $1,054,000. Finally, Amundi raised its stake in shares of Hanesbrands by 184.8% during the 4th quarter. Amundi now owns 176,316 shares of the textile maker's stock worth $1,465,000 after buying an additional 114,402 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on HBI shares. Wells Fargo & Company upped their price objective on Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus cut their price target on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, April 10th. UBS Group raised their price objective on shares of 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 price objective on shares of Hanesbrands and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.75.

Hanesbrands Price Performance

HBI stock traded down $0.01 during midday trading on Thursday, hitting $4.74. 1,752,684 shares of the stock were exchanged, compared to its average volume of 6,933,501. The stock's 50-day moving average price is $4.86 and its 200-day moving average price is $6.08. The company has a debt-to-equity ratio of 53.45, a quick ratio of 0.67 and a current ratio of 1.55. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -5.62 and a beta of 1.47. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10.

Hanesbrands (NYSE:HBI - Get Free Report) last announced 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 positive return on equity of 262.15% and a negative net margin of 8.12%. The business had revenue of $760.15 million during the quarter, compared to analysts' expectations of $757.42 million. During the same quarter last year, the business posted ($0.02) earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

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.