Keynote Financial Services LLC Decreases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Keynote Financial Services LLC decreased its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 54,288 shares of the textile maker’s stock after selling 2,385 shares during the period. Keynote Financial Services LLC’s holdings in Hanesbrands were worth $442,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Hanesbrands by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after purchasing an additional 89,367 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Hanesbrands during the fourth quarter worth $62,199,000. Allianz Asset Management GmbH grew its holdings in shares of Hanesbrands by 3.7% during the fourth quarter. Allianz Asset Management GmbH now owns 5,283,917 shares of the textile maker’s stock valued at $43,011,000 after buying an additional 189,397 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hanesbrands by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock valued at $32,212,000 after acquiring an additional 11,074 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Hanesbrands by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,559,231 shares of the textile maker’s stock worth $20,832,000 after acquiring an additional 15,727 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of HBI opened at $6.01 on Friday. The business’s 50-day moving average is $7.70 and its two-hundred day moving average is $7.47. The company has a market capitalization of $2.12 billion, a P/E ratio of -6.53 and a beta of 1.63. Hanesbrands Inc. has a fifty-two week low of $4.40 and a fifty-two week high of $9.10. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The firm had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. Research analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In other news, Director Robert F. Moran purchased 74,850 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $6.01 per share, with a total value of $449,848.50. Following the completion of the acquisition, the director now owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This represents a 52.89 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on HBI. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $11.00 in a research note on Tuesday, November 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a report on Friday, February 14th. Finally, Barclays increased their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

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.