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

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 57.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Hanesbrands by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker's stock worth $325,884,000 after acquiring an additional 421,915 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Hanesbrands by 28.2% in the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker's stock worth $81,009,000 after acquiring an additional 2,189,844 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Hanesbrands by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker's stock worth $56,245,000 after acquiring an additional 171,918 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Hanesbrands by 60.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker's stock worth $44,715,000 after acquiring an additional 2,069,315 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Hanesbrands by 147.7% in the fourth quarter. American Century Companies Inc. now owns 5,362,455 shares of the textile maker's stock worth $43,650,000 after acquiring an additional 3,197,544 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on HBI shares. Barclays set a $6.00 price target on Hanesbrands and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Wall Street Zen upgraded Hanesbrands from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. UBS Group raised their price objective on Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price objective on Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a research note 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 MarketBeat, Hanesbrands presently has an average rating of "Hold" and a consensus price target of $5.75.

Hanesbrands Stock Performance

NYSE:HBI traded up $0.16 during trading hours on Thursday, reaching $4.80. The stock had a trading volume of 1,043,302 shares, compared to its average volume of 6,916,677. 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 50 day simple moving average of $4.85 and a 200 day simple moving average of $5.96. Hanesbrands Inc. has a 12-month low of $4.02 and a 12-month high of $9.10. The stock has a market cap of $1.69 billion, a P/E ratio of -5.71 and a beta of 1.47.

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