Hanesbrands Inc. (NYSE:HBI) Shares Sold by Old North State Wealth Management LLC

Old North State Wealth Management LLC cut its stake in Hanesbrands Inc. (NYSE:HBI - Free Report) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 876,679 shares of the textile maker's stock after selling 66,700 shares during the period. Hanesbrands accounts for approximately 4.0% of Old North State Wealth Management LLC's investment portfolio, making the stock its 3rd largest holding. Old North State Wealth Management LLC owned 0.25% of Hanesbrands worth $7,137,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock valued at $39,000 after purchasing an additional 1,594 shares during the period. WFA Asset Management Corp acquired a new position in shares of Hanesbrands during the fourth quarter valued at $46,000. GAMMA Investing LLC increased its holdings in shares of Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock valued at $54,000 after purchasing an additional 1,895 shares during the period. Whittier Trust Co. acquired a new position in shares of Hanesbrands during the third quarter valued at $51,000. Finally, ERTS Wealth Advisors LLC acquired a new position in shares of Hanesbrands during the third quarter valued at $76,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HBI. UBS Group raised Hanesbrands from a "neutral" rating to a "buy" rating and raised their price target for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays raised their target price on Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Four equities research 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, Hanesbrands has a consensus rating of "Hold" and a consensus target price of $6.90.

Hanesbrands Price Performance

HBI stock traded down $0.44 during trading hours on Friday, hitting $7.54. 4,598,188 shares of the stock traded hands, compared to its average volume of 4,296,875. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. Hanesbrands Inc. has a one year low of $4.06 and a one year high of $9.10. The company has a market cap of $2.66 billion, a P/E ratio of -11.42 and a beta of 1.63. The stock has a 50-day simple moving average of $8.32 and a 200 day simple moving average of $7.40.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating 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 quarter last year, the company posted $0.10 EPS. Hanesbrands's revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Hanesbrands Company 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.