Connor Clark & Lunn Investment Management Ltd. Sells 477,254 Shares of Hanesbrands Inc. (NYSE:HBI)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 92.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,354 shares of the textile maker's stock after selling 477,254 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Hanesbrands were worth $304,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Loews Corp lifted its stake in Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker's stock worth $143,945,000 after purchasing an additional 15,206,007 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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. Squarepoint Ops LLC boosted its holdings in shares of Hanesbrands by 193.4% in the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker's stock valued at $4,112,000 after buying an additional 549,855 shares during the period. International Assets Investment Management LLC grew its position in shares of Hanesbrands by 481.0% during the 3rd quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker's stock valued at $3,822,000 after buying an additional 430,534 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in Hanesbrands by 2.1% during the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker's stock worth $80,506,000 after acquiring an additional 342,056 shares during the period. 80.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HBI shares. Stifel Nicolaus increased 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. UBS Group raised Hanesbrands from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Finally, Barclays upped their price target on Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.90.

Hanesbrands Stock Down 0.5 %

Shares of HBI stock traded down $0.04 during trading hours on Friday, reaching $8.70. 3,040,889 shares of the stock traded hands, compared to its average volume of 6,890,082. The business has a fifty day moving average price of $7.55 and a 200 day moving average price of $6.26. Hanesbrands Inc. has a 1-year low of $3.58 and a 1-year 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.

Hanesbrands (NYSE:HBI - Get Free Report) last released its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. The company had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, equities 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.