Alaska Permanent Fund Corp Sells 252,300 Shares of Hanesbrands Inc. (NYSE:HBI)

Alaska Permanent Fund Corp lowered its holdings in Hanesbrands Inc. (NYSE:HBI) by 60.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,200 shares of the textile maker’s stock after selling 252,300 shares during the period. Alaska Permanent Fund Corp’s holdings in Hanesbrands were worth $976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alhambra Investment Management LLC bought a new stake in shares of Hanesbrands in the fourth quarter valued at approximately $46,000. Sherbrooke Park Advisers LLC acquired a new position in Hanesbrands in the 3rd quarter valued at $42,000. AXQ Capital LP bought a new stake in shares of Hanesbrands during the 3rd quarter valued at $43,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Hanesbrands during the 4th quarter worth $48,000. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Hanesbrands during the 4th quarter worth $51,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HBI shares. Citigroup upped their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and set a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. Finally, Barclays lifted their price objective on shares of Hanesbrands from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Hanesbrands Stock Performance

Hanesbrands stock opened at $4.96 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57. Hanesbrands Inc. has a 12-month low of $3.54 and a 12-month high of $5.86. The business’s 50-day moving average price is $4.86 and its two-hundred day moving average price is $4.74.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. On average, sell-side analysts predict that Hanesbrands Inc. will post 0.46 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.