Estabrook Capital Management trimmed its position in Hanesbrands Inc. (NYSE:HBI – Get Rating) by 35.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 53,628 shares of the textile maker’s stock after selling 29,483 shares during the period. Estabrook Capital Management’s holdings in Hanesbrands were worth $341,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Hanesbrands by 2.7% in the 1st quarter. BlackRock Inc. now owns 37,582,047 shares of the textile maker’s stock valued at $559,599,000 after buying an additional 997,840 shares during the last quarter. Vanguard Group Inc. boosted its position in Hanesbrands by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 34,394,827 shares of the textile maker’s stock valued at $512,139,000 after buying an additional 210,175 shares during the last quarter. Cooke & Bieler LP boosted its position in Hanesbrands by 12.4% in the 4th quarter. Cooke & Bieler LP now owns 23,252,129 shares of the textile maker’s stock valued at $147,884,000 after buying an additional 2,565,168 shares during the last quarter. Shapiro Capital Management LLC lifted its stake in shares of Hanesbrands by 9.8% in the 1st quarter. Shapiro Capital Management LLC now owns 15,351,432 shares of the textile maker’s stock valued at $228,583,000 after purchasing an additional 1,371,689 shares during the period. Finally, State Street Corp lifted its stake in shares of Hanesbrands by 3.2% in the 2nd quarter. State Street Corp now owns 12,121,959 shares of the textile maker’s stock valued at $124,735,000 after purchasing an additional 376,520 shares during the period. 81.87% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on HBI. StockNews.com began coverage on Hanesbrands in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Stifel Nicolaus cut their price target on Hanesbrands from $7.00 to $6.00 in a research note on Thursday, May 4th. TheStreet downgraded Hanesbrands from a “c” rating to a “d+” rating in a research note on Thursday, February 2nd. UBS Group cut their price target on Hanesbrands from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 29th. Finally, Barclays dropped their price objective on Hanesbrands from $6.00 to $5.00 in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.60.
Hanesbrands Trading Up 4.1 %
Shares of HBI traded up $0.16 during midday trading on Monday, hitting $4.09. The stock had a trading volume of 7,059,100 shares, compared to its average volume of 11,460,366. The company has a 50 day simple moving average of $4.71 and a two-hundred day simple moving average of $5.89. Hanesbrands Inc. has a twelve month low of $3.85 and a twelve month high of $12.13. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.60 and a current ratio of 1.72.
Hanesbrands (NYSE:HBI – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The textile maker reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Hanesbrands had a positive return on equity of 38.23% and a negative net margin of 4.64%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $0.34 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts anticipate that Hanesbrands Inc. will post 0.34 EPS for the current fiscal year.
About Hanesbrands
Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.
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