Northern Trust Corp Sells 179,925 Shares of Hanesbrands Inc. $HBI

Key Points

• Northern Trust Corp has reduced its stake in Hanesbrands Inc. by 4.3%, selling 179,925 shares during the first quarter, leaving it with approximately 3.99 million shares worth about $23 million.
• Hanesbrands reported a quarterly EPS of $0.24, exceeding analysts' expectations, and noted a revenue of nearly $991.33 million, albeit a 0.4% decline year-over-year.
• Analysts have raised their target prices for HBI, with UBS Group increasing their rating to "buy" and pricing the stock at $9.00, while Wells Fargo upgraded their target to $6.00.

Northern Trust Corp lowered its holdings in Hanesbrands Inc. (NYSE:HBI - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,992,008 shares of the textile maker's stock after selling 179,925 shares during the period. Northern Trust Corp owned about 1.13% of Hanesbrands worth $23,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC grew its position 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 purchasing an additional 2,255 shares in the last quarter. Fifth Third Bancorp grew its position 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 purchasing an additional 2,267 shares in the last quarter. Balanced Rock Investment Advisors LLC grew its position in Hanesbrands by 6.0% in the first quarter. Balanced Rock Investment Advisors LLC now owns 50,270 shares of the textile maker's stock valued at $290,000 after purchasing an additional 2,826 shares in the last quarter. Corton Capital Inc. grew its position in Hanesbrands by 23.4% in the fourth quarter. Corton Capital Inc. now owns 16,626 shares of the textile maker's stock valued at $135,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Hanesbrands by 23.7% in the first quarter. Federated Hermes Inc. now owns 17,423 shares of the textile maker's stock valued at $101,000 after purchasing an additional 3,334 shares in the last quarter. Institutional investors own 80.31% of the company's stock.

Hanesbrands Stock Performance

Shares of HBI opened at $6.31 on Monday. The firm has a 50-day moving average of $5.03 and a 200-day moving average of $5.16. Hanesbrands Inc. has a one year low of $3.96 and a one year high of $9.10. The company has a market cap of $2.23 billion, a PE ratio of 26.27 and a beta of 1.42. 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 announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. The company had revenue of $991.33 million during the quarter, compared to the consensus estimate of $971.93 million. Hanesbrands had a net margin of 2.49% and a return on equity of 226.31%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Hanesbrands has set its Q3 2025 guidance at 0.160-0.160 EPS. FY 2025 guidance at 0.660-0.660 EPS. As a group, equities analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HBI shares. Wells Fargo & Company raised shares of Hanesbrands from a "strong sell" rating to an "equal weight" rating and raised their target price for the company from $5.00 to $6.00 in a research report on Thursday, August 14th. UBS Group lifted their price objective on shares of Hanesbrands from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Barclays set a $6.00 price objective on shares of Hanesbrands and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Hanesbrands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have given 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 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.

Want to see what other hedge funds are holding HBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanesbrands Inc. (NYSE:HBI - Free Report).

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.