PNC Financial Services Group Inc. Trims Position in Hanesbrands Inc. (NYSE:HBI)

PNC Financial Services Group Inc. lessened its stake in Hanesbrands Inc. (NYSE:HBI) by 12.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,382 shares of the textile maker’s stock after selling 9,702 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hanesbrands were worth $540,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HBI. Geode Capital Management LLC increased its position in Hanesbrands by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock valued at $58,183,000 after purchasing an additional 89,367 shares during the period. Hennessy Advisors Inc. purchased a new position in Hanesbrands during the 4th quarter valued at about $62,199,000. Allianz Asset Management GmbH increased its position in Hanesbrands by 3.7% during the 4th quarter. Allianz Asset Management GmbH now owns 5,283,917 shares of the textile maker’s stock valued at $43,011,000 after purchasing an additional 189,397 shares during the period. Charles Schwab Investment Management Inc. increased its position in Hanesbrands by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock valued at $32,212,000 after purchasing an additional 11,074 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Hanesbrands by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,559,231 shares of the textile maker’s stock valued at $20,832,000 after purchasing an additional 15,727 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Up 2.8 %

Shares of Hanesbrands stock opened at $6.08 on Thursday. The firm’s 50 day moving average price is $7.13 and its 200-day moving average price is $7.45. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a 52-week low of $4.40 and a 52-week high of $9.10. The company has a market cap of $2.15 billion, a P/E ratio of -6.60 and a beta of 1.75.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $888.47 million for the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. On average, sell-side analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert F. Moran bought 74,850 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the purchase, the director now directly owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average price target of $7.10.

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.