Patriot Financial Group Insurance Agency LLC Sells 21,971 Shares of Hanesbrands Inc. (NYSE:HBI)

Patriot Financial Group Insurance Agency LLC decreased its stake in Hanesbrands Inc. (NYSE:HBI) by 48.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,621 shares of the textile maker’s stock after selling 21,971 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Hanesbrands were worth $174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HBI. 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 valued at $233,542,000 after purchasing an additional 1,362,140 shares in the last quarter. Loews Corp increased its position in shares of Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock valued at $143,945,000 after purchasing an additional 15,206,007 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of Hanesbrands by 2.1% during the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after buying an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Hanesbrands by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after buying an additional 1,024,308 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in Hanesbrands by 3.9% in the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after buying an additional 183,069 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analysts Set New Price Targets

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

Hanesbrands Stock Performance

Hanesbrands stock opened at $7.16 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The firm has a market cap of $2.52 billion, a P/E ratio of -121.83 and a beta of 1.58. Hanesbrands Inc. has a 1-year low of $3.58 and a 1-year high of $7.57. The firm has a 50-day moving average of $6.84 and a 200-day moving average of $5.73.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. Sell-side analysts expect that Hanesbrands Inc. will post 0.34 EPS for the current year.

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.