Hanesbrands Inc. (NYSE:HBI) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in Hanesbrands Inc. (NYSE:HBI) by 17.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 32,184 shares of the textile maker’s stock after selling 6,647 shares during the period. HighTower Advisors LLC’s holdings in Hanesbrands were worth $236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its position in Hanesbrands by 203.5% in the 3rd quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock valued at $851,000 after acquiring an additional 77,669 shares during the period. International Assets Investment Management LLC grew its holdings in Hanesbrands by 481.0% in the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after purchasing an additional 430,534 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of Hanesbrands by 3.9% in the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Hanesbrands during the third quarter valued at $51,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Hanesbrands in the third quarter valued at approximately $785,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Performance

Shares of NYSE HBI opened at $8.35 on Wednesday. The stock has a market capitalization of $2.94 billion, a P/E ratio of -12.65 and a beta of 1.63. Hanesbrands Inc. has a 52-week low of $3.88 and a 52-week high of $9.10. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The firm’s 50-day moving average price is $7.98 and its two-hundred day moving average price is $6.66.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The business had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. During the same period in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays lifted their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.90.

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.