Connor Clark & Lunn Investment Management Ltd. Decreases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Hanesbrands Inc. (NYSE:HBI) by 16.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,510 shares of the textile maker’s stock after selling 6,844 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hanesbrands were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new stake in shares of Hanesbrands during the third quarter worth about $248,000. Moors & Cabot Inc. increased its holdings in Hanesbrands by 25.9% during the 3rd quarter. Moors & Cabot Inc. now owns 58,383 shares of the textile maker’s stock worth $429,000 after purchasing an additional 12,000 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Hanesbrands by 628.2% in the 3rd quarter. Intech Investment Management LLC now owns 74,766 shares of the textile maker’s stock valued at $550,000 after purchasing an additional 64,499 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Hanesbrands by 0.3% during 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Hanesbrands by 4.5% in the third quarter. The Manufacturers Life Insurance Company now owns 184,714 shares of the textile maker’s stock worth $1,358,000 after buying an additional 7,897 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Stock Performance

Hanesbrands stock opened at $6.01 on Monday. The company has a market cap of $2.12 billion, a PE ratio of -6.53 and a beta of 1.75. Hanesbrands Inc. has a 12 month low of $4.40 and a 12 month high of $9.10. The company has a fifty day moving average price of $6.99 and a two-hundred day moving average price of $7.45. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The business had revenue of $888.47 million during the quarter, compared to the consensus estimate of $899.30 million. Research analysts expect that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HBI shares. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of Hanesbrands in a report on Friday, February 14th. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Hanesbrands presently has a consensus rating of “Hold” and an average target price of $7.10.

Insider Transactions at Hanesbrands

In other news, Director Robert F. Moran purchased 74,850 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the transaction, the director now owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. The trade was a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

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.