5. GENDER EQUALITY

Citigroup Inc. Cuts Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Written by Amanda

Citigroup Inc. decreased its stake in shares of Hanesbrands Inc. (NYSE:HBIGet Rating) by 31.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,103 shares of the textile maker’s stock after selling 30,771 shares during the period. Citigroup Inc.’s holdings in Hanesbrands were worth $420,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HBI. Stephens Inc. AR lifted its holdings in Hanesbrands by 2.1% during the fourth quarter. Stephens Inc. AR now owns 67,701 shares of the textile maker’s stock worth $431,000 after acquiring an additional 1,383 shares during the period. Boenning & Scattergood Inc. raised its stake in shares of Hanesbrands by 3.0% in the fourth quarter. Boenning & Scattergood Inc. now owns 50,144 shares of the textile maker’s stock valued at $747,000 after buying an additional 1,480 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Hanesbrands by 41.9% in the first quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker’s stock valued at $74,000 after buying an additional 1,480 shares during the period. Northern Oak Wealth Management Inc. raised its stake in shares of Hanesbrands by 9.9% in the third quarter. Northern Oak Wealth Management Inc. now owns 16,792 shares of the textile maker’s stock valued at $117,000 after buying an additional 1,508 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Hanesbrands by 8.0% in the second quarter. Franklin Resources Inc. now owns 21,973 shares of the textile maker’s stock valued at $226,000 after buying an additional 1,629 shares during the period. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Hanesbrands Price Performance

HBI opened at $4.58 on Wednesday. The stock has a 50-day moving average price of $4.60 and a 200-day moving average price of $5.74. Hanesbrands Inc. has a 12-month low of $3.85 and a 12-month high of $11.85. The company has a current ratio of 1.72, a quick ratio of 0.60 and a debt-to-equity ratio of 10.57. The stock has a market capitalization of $1.60 billion, a P/E ratio of -5.72 and a beta of 1.59.

Hanesbrands (NYSE:HBIGet Rating) last released its earnings results on Wednesday, May 3rd. The textile maker reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Hanesbrands had a positive return on equity of 38.23% and a negative net margin of 4.64%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $0.34 EPS. Hanesbrands’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays lowered their target price on Hanesbrands from $6.00 to $5.00 in a research note on Thursday, May 4th. UBS Group decreased their price objective on Hanesbrands from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 29th. StockNews.com initiated coverage on Hanesbrands in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Stifel Nicolaus decreased their price objective on Hanesbrands from $7.00 to $6.00 in a research note on Thursday, May 4th. Finally, SpectralCast reiterated a “maintains” rating on shares of Hanesbrands in a research note on Friday, April 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.60.

About Hanesbrands

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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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About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai