Hanesbrands Inc. (NYSE:HBI) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its position in Hanesbrands Inc. (NYSE:HBI) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 746,139 shares of the textile maker’s stock after selling 27,400 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Hanesbrands worth $5,484,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Loews Corp lifted its stake in shares of Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock valued at $143,945,000 after buying an additional 15,206,007 shares during the period. Cooke & Bieler LP grew its position in shares of Hanesbrands by 2.1% in the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after purchasing an additional 342,056 shares during the period. Dimensional Fund Advisors LP increased its stake in Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the last quarter. Brandes Investment Partners LP lifted its position in Hanesbrands by 3.9% during the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after buying an additional 183,069 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $32,212,000 after buying an additional 11,074 shares during the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Price Performance

Hanesbrands stock opened at $8.70 on Monday. The firm has a fifty day moving average of $7.55 and a 200-day moving average of $6.27. Hanesbrands Inc. has a 52-week low of $3.58 and a 52-week high of $9.10. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The firm has a market capitalization of $3.07 billion, a P/E ratio of -13.18 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same period last year, the company posted $0.10 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Hanesbrands Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Finally, Stifel Nicolaus increased their target price on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.90.

About Hanesbrands

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.