UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.09 Million Holdings in Hanesbrands Inc. (NYSE:HBI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Hanesbrands Inc. (NYSE:HBI) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 827,839 shares of the textile maker’s stock after selling 13,169 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hanesbrands were worth $6,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Hanesbrands in the second quarter valued at about $39,000. Blue Trust Inc. grew its holdings in shares of Hanesbrands by 42.3% during the 3rd 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. Intech Investment Management LLC purchased a new stake in Hanesbrands during the 2nd quarter valued at $51,000. Whittier Trust Co. purchased a new stake in shares of Hanesbrands in the 3rd quarter worth about $51,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Hanesbrands in the 2nd quarter worth about $55,000. 80.31% of the stock is owned by institutional investors.

Hanesbrands Price Performance

Shares of NYSE:HBI opened at $8.40 on Wednesday. Hanesbrands Inc. has a 1-year low of $3.71 and a 1-year high of $9.10. The firm’s 50 day simple moving average is $7.76 and its two-hundred day simple moving average is $6.44. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The company has a market capitalization of $2.96 billion, a P/E ratio of -12.73 and a beta of 1.63.

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

Wall Street Analyst Weigh In

HBI has been the subject of a number of recent research reports. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays raised their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.90.

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.