Partnership Wealth Management LLC Trims Stake in Hanesbrands Inc. (NYSE:HBI)

Partnership Wealth Management LLC lessened its position in Hanesbrands Inc. (NYSE:HBI) by 97.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,357 shares of the textile maker’s stock after selling 414,306 shares during the period. Partnership Wealth Management LLC’s holdings in Hanesbrands were worth $91,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Concord Wealth Partners lifted its stake in Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after purchasing an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC bought a new stake in shares of Hanesbrands during the 1st quarter worth approximately $35,000. Rothschild Investment LLC purchased a new position in Hanesbrands during the 2nd quarter valued at $39,000. Hollencrest Capital Management purchased a new position in Hanesbrands during the 1st quarter valued at $41,000. Finally, Future Financial Wealth Managment LLC bought a new position in Hanesbrands in the 1st quarter valued at $44,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Hanesbrands Stock Down 1.2 %

Shares of Hanesbrands stock opened at $7.30 on Wednesday. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -123.17 and a beta of 1.58. The firm’s 50-day moving average is $6.44 and its two-hundred day moving average is $5.52. Hanesbrands Inc. has a 1 year low of $3.58 and a 1 year high of $7.44.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. As a group, research analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

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.