Moors & Cabot Inc. lessened its stake in shares of Hanesbrands Inc. (NYSE:HBI – Free Report) by 5.3% during the second quarter, HoldingsChannel reports. The firm owned 47,976 shares of the textile maker’s stock after selling 2,673 shares during the period. Moors & Cabot Inc.’s holdings in Hanesbrands were worth $218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mission Wealth Management LP lifted its stake in shares of Hanesbrands by 11.5% during the second quarter. Mission Wealth Management LP now owns 90,500 shares of the textile maker’s stock worth $411,000 after purchasing an additional 9,360 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hanesbrands by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 3,708,961 shares of the textile maker’s stock worth $16,839,000 after acquiring an additional 128,979 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Hanesbrands by 10.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 112,200 shares of the textile maker’s stock worth $590,000 after acquiring an additional 10,265 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Hanesbrands by 39.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,149,200 shares of the textile maker’s stock worth $6,045,000 after acquiring an additional 323,555 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new position in shares of Hanesbrands in the second quarter worth about $2,291,000. Institutional investors and hedge funds own 87.64% of the company’s stock.
Wall Street Analyst Weigh In
HBI has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $5.50 price target on shares of Hanesbrands in a research note on Tuesday, August 8th. StockNews.com upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands presently has a consensus rating of “Hold” and a consensus price target of $5.75.
Hanesbrands Stock Down 2.4 %
NYSE:HBI opened at $4.00 on Tuesday. The firm has a market capitalization of $1.40 billion, a PE ratio of -2.74 and a beta of 1.71. The stock has a 50 day moving average of $4.17 and a 200-day moving average of $4.53. Hanesbrands Inc. has a 52 week low of $3.54 and a 52 week high of $8.80. The company has a current ratio of 1.57, a quick ratio of 0.65 and a debt-to-equity ratio of 12.08.
Hanesbrands (NYSE:HBI – Get Free Report) last posted its earnings results on Thursday, November 9th. The textile maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hanesbrands had a negative net margin of 8.84% and a positive return on equity of 9.62%. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. Analysts predict that Hanesbrands Inc. will post 0.12 EPS for the current year.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.
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