Commonwealth Equity Services LLC Trims Stake in Hanesbrands Inc. (NYSE:HBI)

Commonwealth Equity Services LLC cut its stake in Hanesbrands Inc. (NYSE:HBI) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 405,021 shares of the textile maker’s stock after selling 28,754 shares during the period. Commonwealth Equity Services LLC owned 0.12% of Hanesbrands worth $1,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC acquired a new position in shares of Hanesbrands in the 2nd quarter worth approximately $39,000. Sage Rhino Capital LLC acquired a new position in shares of Hanesbrands during the 2nd quarter worth $63,000. Loews Corp raised its holdings in shares of Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hanesbrands by 24.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,191 shares of the textile maker’s stock worth $450,000 after purchasing an additional 17,689 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in shares of Hanesbrands by 22.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 45,592 shares of the textile maker’s stock valued at $225,000 after buying an additional 8,223 shares during the period. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Price Performance

Shares of NYSE HBI opened at $6.76 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of -112.58 and a beta of 1.57. Hanesbrands Inc. has a 1-year low of $3.54 and a 1-year high of $6.89. The company has a fifty day moving average price of $5.83 and a 200 day moving average price of $5.31. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $995.40 million during the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. Hanesbrands’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) earnings per share. Research analysts predict that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HBI. Stifel Nicolaus raised their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Hanesbrands in a research note on Thursday, June 6th. UBS Group lifted their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Finally, Barclays boosted their price objective on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $5.80.

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.