Cooke & Bieler LP Reduces Position in Hanesbrands Inc. (NYSE:HBI)

Cooke & Bieler LP lessened its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,252,045 shares of the textile maker's stock after selling 513,650 shares during the period. Cooke & Bieler LP owned approximately 4.93% of Hanesbrands worth $76,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its holdings in shares of Hanesbrands by 41.9% during the first quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker's stock worth $74,000 after purchasing an additional 1,480 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Hanesbrands by 8.0% during the second quarter. Franklin Resources Inc. now owns 21,973 shares of the textile maker's stock worth $226,000 after purchasing an additional 1,629 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Hanesbrands by 0.4% during the fourth quarter. Alliancebernstein L.P. now owns 477,420 shares of the textile maker's stock worth $3,036,000 after purchasing an additional 2,048 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Hanesbrands by 63.2% during the fourth quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker's stock worth $38,000 after purchasing an additional 2,332 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in Hanesbrands by 23.4% in the third quarter. J.W. Cole Advisors Inc. now owns 12,351 shares of the textile maker's stock valued at $49,000 after buying an additional 2,341 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HBI. Wedbush lifted their price objective on shares of Hanesbrands from $4.50 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, April 3rd. Citigroup lifted their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the company a "neutral" rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.00.

Hanesbrands Stock Performance

HBI traded down $0.08 on Friday, reaching $4.65. The stock had a trading volume of 7,020,756 shares, compared to its average volume of 7,283,313. The company has a market cap of $1.63 billion, a P/E ratio of -92.98 and a beta of 1.58. The business's 50-day moving average price is $5.11 and its two-hundred day moving average price is $4.50. The company has a current ratio of 1.64, a quick ratio of 0.65 and a debt-to-equity ratio of 7.72. Hanesbrands Inc. has a 12-month low of $3.54 and a 12-month high of $5.86.

Hanesbrands (NYSE:HBI - Get Free Report) last released its earnings results on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.06). The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.36 billion. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The firm's revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Sell-side analysts forecast that Hanesbrands Inc. will post 0.44 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.