Bard Financial Services Inc. Lowers Holdings in Hanesbrands Inc. (NYSE:HBI)

Bard Financial Services Inc. reduced its position in shares of Hanesbrands Inc. (NYSE:HBI) by 26.7% in the third quarter, Holdings Channel reports. The firm owned 714,615 shares of the textile maker’s stock after selling 260,800 shares during the quarter. Hanesbrands accounts for 1.1% of Bard Financial Services Inc.’s holdings, making the stock its 23rd biggest holding. Bard Financial Services Inc.’s holdings in Hanesbrands were worth $5,252,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Concord Wealth Partners raised its holdings in Hanesbrands by 220.3% in the 1st quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after acquiring an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Hanesbrands during the first quarter valued at $35,000. Rothschild Investment LLC bought a new stake in Hanesbrands in the 2nd quarter worth about $39,000. Hollencrest Capital Management purchased a new position in Hanesbrands in the 1st quarter worth about $41,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Hanesbrands during the 1st quarter valued at about $44,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Performance

Shares of HBI stock traded up $0.18 during mid-day trading on Friday, reaching $7.09. 4,418,689 shares of the company’s stock traded hands, compared to its average volume of 8,099,527. Hanesbrands Inc. has a 12 month low of $3.58 and a 12 month high of $7.41. The firm has a 50 day moving average price of $6.39 and a two-hundred day moving average price of $5.49. The firm has a market capitalization of $2.49 billion, a PE ratio of -118.08 and a beta of 1.57. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46.

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

Analyst Upgrades and Downgrades

HBI has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. UBS Group raised their price target on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus increased their target price on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.80.

About Hanesbrands

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.