Captrust Financial Advisors Sells 40,096 Shares of Hanesbrands Inc. (NYSE:HBI)

Captrust Financial Advisors cut its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 60.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,372 shares of the textile maker’s stock after selling 40,096 shares during the period. Captrust Financial Advisors’ holdings in Hanesbrands were worth $194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC purchased a new position in Hanesbrands during the second quarter worth about $55,000. Louisiana State Employees Retirement System increased its holdings in Hanesbrands by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker’s stock worth $872,000 after acquiring an additional 3,500 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Hanesbrands by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,810,295 shares of the textile maker’s stock worth $13,855,000 after buying an additional 61,041 shares during the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Hanesbrands by 1.3% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker’s stock worth $778,000 after buying an additional 2,072 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Hanesbrands by 22.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 45,592 shares of the textile maker’s stock worth $225,000 after buying an additional 8,223 shares during the last quarter. 80.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HBI has been the topic of a number of research analyst reports. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays increased their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $6.90.

Hanesbrands Price Performance

HBI stock opened at $8.54 on Tuesday. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. Hanesbrands Inc. has a 52 week low of $3.88 and a 52 week high of $9.10. The firm’s fifty day moving average is $7.89 and its 200 day moving average is $6.55. The firm has a market cap of $3.01 billion, a P/E ratio of -12.93 and a beta of 1.64.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. Research analysts predict that Hanesbrands Inc. will post 0.39 earnings per share 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.