MML Investors Services LLC Trims Stake in Hanesbrands Inc. (NYSE:HBI)

MML Investors Services LLC cut its stake in Hanesbrands Inc. (NYSE:HBI) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,590 shares of the textile maker’s stock after selling 7,278 shares during the period. MML Investors Services LLC’s holdings in Hanesbrands were worth $886,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HBI. Loews Corp boosted its holdings in 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 in the last quarter. Cooke & Bieler LP boosted its stake in Hanesbrands by 2.1% in the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock worth $80,506,000 after purchasing an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Hanesbrands by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the last quarter. Brandes Investment Partners LP increased its stake in Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Hanesbrands by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock worth $32,212,000 after buying an additional 11,074 shares during the last quarter. 80.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays raised their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Hanesbrands has a consensus rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Up 1.6 %

HBI opened at $8.23 on Friday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -12.47 and a beta of 1.64. The firm has a 50 day moving average price of $7.96 and a 200-day moving average price of $6.62. Hanesbrands Inc. has a twelve month low of $3.88 and a twelve month high of $9.10. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Equities research analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

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.