Farmers & Merchants Investments Inc. cut its stake in shares of Hanesbrands Inc. (NYSE:HBI – Free Report) by 29.8% in the first quarter, Holdings Channel reports. The fund owned 222,922 shares of the textile maker’s stock after selling 94,472 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Hanesbrands were worth $1,293,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Hanesbrands during the first quarter valued at $44,000. Northwest Investment Counselors LLC bought a new position in shares of Hanesbrands during the first quarter valued at $51,000. Alhambra Investment Management LLC bought a new position in shares of Hanesbrands during the fourth quarter valued at $46,000. Sherbrooke Park Advisers LLC bought a new position in shares of Hanesbrands during the third quarter valued at $42,000. Finally, AXQ Capital LP bought a new position in shares of Hanesbrands during the third quarter valued at $43,000. 80.31% of the stock is owned by institutional investors.
Hanesbrands Price Performance
Shares of HBI stock opened at $4.80 on Wednesday. The stock has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.80. 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.
Analysts Set New Price Targets
A number of brokerages have issued reports on HBI. Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of Hanesbrands in a report on Thursday, June 6th. Barclays lifted their price target on Hanesbrands from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Citigroup lifted their price target on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.00.
Read Our Latest Research Report on Hanesbrands
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.
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