Principal Financial Group Inc. lowered its holdings in Hanesbrands Inc. (NYSE:HBI - Free Report) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,666,252 shares of the textile maker's stock after selling 81,191 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Hanesbrands worth $12,247,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of HBI. Cooke & Bieler LP boosted its stake in Hanesbrands by 2.1% in the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker's stock worth $80,506,000 after purchasing an additional 342,056 shares during the period. Geode Capital Management LLC boosted its position in shares of Hanesbrands by 1.1% in the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker's stock valued at $58,183,000 after acquiring an additional 89,367 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker's stock valued at $32,836,000 after acquiring an additional 1,024,308 shares during the period. Brandes Investment Partners LP grew its stake in Hanesbrands by 3.9% during 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 acquiring an additional 183,069 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hanesbrands by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker's stock worth $32,212,000 after acquiring an additional 11,074 shares during the period. 80.31% of the stock is currently owned by hedge funds and other institutional investors.
Hanesbrands Price Performance
Shares of Hanesbrands stock traded down $0.11 on Monday, hitting $8.12. 4,833,345 shares of the company traded hands, compared to its average volume of 7,565,331. Hanesbrands Inc. has a 12-month low of $3.88 and a 12-month high of $9.10. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The company has a market cap of $2.86 billion, a P/E ratio of -12.30 and a beta of 1.64. The firm's 50-day simple moving average is $8.07 and its 200 day simple moving average is $6.77.
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 for the quarter, compared to the consensus estimate of $936.47 million. During the same quarter last year, the business posted $0.10 earnings per share. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. UBS Group upgraded shares of Hanesbrands from a "neutral" rating to a "buy" rating and boosted their price target for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays boosted 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.90.
Read Our Latest Report on HBI
About Hanesbrands
(
Free Report)
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.
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