Wealth Enhancement Advisory Services LLC Reduces Stake in Hanesbrands Inc. (NYSE:HBI)

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

Other large investors have also made changes to their positions in the company. GeoWealth Management LLC raised its stake in shares of Hanesbrands by 2,278.8% during the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock valued at $28,000 after acquiring an additional 3,327 shares during the last quarter. CX Institutional bought a new position in shares of Hanesbrands during the first quarter valued at $34,000. Smartleaf Asset Management LLC raised its stake in shares of Hanesbrands by 122.8% during the fourth 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 during the last quarter. Transce3nd LLC bought a new position in shares of Hanesbrands during the fourth quarter valued at $45,000. Finally, Fifth Third Bancorp raised its stake in shares of Hanesbrands by 37.8% during the first 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 during the last quarter. Institutional investors and hedge funds own 80.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HBI. Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. 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 report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the company 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 report on Thursday, May 22nd. Finally, Barclays set a $6.00 target price on shares of Hanesbrands and gave the company an "equal weight" rating in a report on Tuesday, May 20th. One research 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. Based on data from MarketBeat, Hanesbrands has an average rating of "Hold" and an average price target of $5.75.

Hanesbrands Stock Down 1.1%

Shares of NYSE HBI traded down $0.05 during trading on Wednesday, hitting $4.61. 3,682,421 shares of the company traded hands, compared to its average volume of 6,938,222. The business's fifty day moving average is $4.85 and its 200 day moving average is $5.97. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.49 and a beta of 1.47. The company has a debt-to-equity ratio of 53.45, a quick ratio of 0.67 and a current ratio of 1.55.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $757.42 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

About Hanesbrands

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.