Profund Advisors LLC Cuts Stock Position in Hanesbrands Inc. (NYSE:HBI)

Profund Advisors LLC trimmed its position in shares of Hanesbrands Inc. (NYSE:HBI) by 10.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,918 shares of the textile maker’s stock after selling 2,014 shares during the period. Profund Advisors LLC’s holdings in Hanesbrands were worth $83,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Hanesbrands by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,749,433 shares of the textile maker’s stock valued at $25,642,000 after acquiring an additional 632,865 shares during the period. Vanguard Group Inc. raised its position in Hanesbrands by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after acquiring an additional 1,362,140 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Hanesbrands during the first quarter worth about $1,093,000. Shell Asset Management Co. grew its holdings in shares of Hanesbrands by 127.0% during the first quarter. Shell Asset Management Co. now owns 20,417 shares of the textile maker’s stock worth $118,000 after buying an additional 11,423 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Hanesbrands by 212.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 409,468 shares of the textile maker’s stock worth $2,375,000 after buying an additional 278,383 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Hanesbrands Trading Up 1.8 %

Shares of HBI stock opened at $7.28 on Monday. Hanesbrands Inc. has a 12 month low of $3.55 and a 12 month high of $7.31. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06. The business’s 50 day moving average is $6.24 and its two-hundred day moving average is $5.43. The company has a market cap of $2.56 billion, a PE ratio of -121.33 and a beta of 1.57.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The firm had revenue of $995.40 million during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned ($0.01) earnings per share. Hanesbrands’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts predict that Hanesbrands Inc. will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HBI shares. Stifel Nicolaus boosted their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. UBS Group upped their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Finally, Barclays upped their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.80.

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.