Townsquare Capital LLC Decreases Holdings in Hanesbrands Inc. (NYSE:HBI)

Townsquare Capital LLC lowered its position in Hanesbrands Inc. (NYSE:HBI) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,018 shares of the textile maker’s stock after selling 2,357 shares during the period. Townsquare Capital LLC’s holdings in Hanesbrands were worth $88,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HBI. Blue Trust Inc. grew its holdings in Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 1,594 shares during the last quarter. Alpha Omega Wealth Management LLC grew its stake in Hanesbrands by 1.3% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker’s stock valued at $778,000 after acquiring an additional 2,072 shares during the last quarter. Arizona State Retirement System increased its holdings in Hanesbrands by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker’s stock valued at $485,000 after acquiring an additional 2,221 shares in the last quarter. Evergreen Capital Management LLC raised its position in Hanesbrands by 6.6% during the second quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock worth $185,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Hanesbrands by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker’s stock valued at $872,000 after purchasing an additional 3,500 shares in the last quarter. 80.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Hanesbrands Stock Down 1.9 %

Shares of NYSE HBI opened at $8.45 on Friday. The firm’s 50 day moving average price is $7.72 and its 200 day moving average price is $6.39. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The firm has a market cap of $2.98 billion, a P/E ratio of -12.80 and a beta of 1.64. Hanesbrands Inc. has a 1 year low of $3.71 and a 1 year high of $9.10.

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