Wealth Enhancement Advisory Services LLC Sells 66,583 Shares of Hanesbrands Inc. (NYSE:HBI)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 57.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,710 shares of the textile maker's stock after selling 66,583 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Hanesbrands were worth $281,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HBI. Fifth Third Bancorp raised its holdings in Hanesbrands by 37.8% in the 1st 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 in the last quarter. CX Institutional bought a new stake in shares of Hanesbrands during the first quarter valued at approximately $34,000. OLD National Bancorp IN raised its stake in shares of 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 purchasing an additional 6,996 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted 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 worth $152,000 after purchasing an additional 2,255 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in Hanesbrands in the 1st quarter valued at $62,000. Institutional investors and hedge funds own 80.31% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBI. Stifel Nicolaus dropped their target price on Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Wall Street Zen raised shares of Hanesbrands from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays set a $6.00 price target on shares of Hanesbrands and gave the company an "equal weight" rating in a report on Tuesday, May 20th. UBS Group upped 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. Finally, Wells Fargo & Company lifted their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.75.

Hanesbrands Trading Down 2.3%

Shares of NYSE HBI traded down $0.11 during mid-day trading on Friday, hitting $4.62. The company's stock had a trading volume of 2,688,376 shares, compared to its average volume of 6,888,982. The company's fifty day simple moving average is $4.85 and its 200-day simple moving average is $5.93. Hanesbrands Inc. has a one year low of $4.02 and a one year high of $9.10. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -5.50 and a beta of 1.47. The company has a debt-to-equity ratio of 53.45, a current ratio of 1.55 and a quick ratio of 0.67.

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