Rhumbline Advisers Sells 38,508 Shares of Hanesbrands Inc. (NYSE:HBI)

Rhumbline Advisers lowered its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 987,641 shares of the textile maker’s stock after selling 38,508 shares during the quarter. Rhumbline Advisers’ holdings in Hanesbrands were worth $5,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GeoWealth Management LLC grew its stake in Hanesbrands by 2,278.8% in the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after buying an additional 3,327 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after buying an additional 2,712 shares during the last quarter. Transce3nd LLC acquired a new position in Hanesbrands in the 4th quarter valued at $45,000. Lazard Asset Management LLC acquired a new position in Hanesbrands in the 4th quarter valued at $56,000. Finally, Partnership Wealth Management LLC acquired a new stake in Hanesbrands in the 1st quarter worth $62,000. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of Hanesbrands stock opened at $4.78 on Friday. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. The firm’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $6.48. Hanesbrands Inc. has a twelve month low of $4.02 and a twelve month high of $9.10. The firm has a market cap of $1.69 billion, a P/E ratio of -5.20 and a beta of 1.51.

Hanesbrands (NYSE:HBI) last issued its earnings results 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 8.06% and a positive return on equity of 108.01%. The business had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. During the same period in the previous year, the business earned ($0.02) EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HBI shares. Wall Street Zen upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 14th. Barclays set a $6.00 price target on shares of Hanesbrands and gave the stock an “equal weight” rating in a research report on Tuesday, May 20th. UBS Group raised their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus decreased their price target on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.75.

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.