Hanesbrands Inc. (NYSE:HBI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Hanesbrands Inc. (NYSE:HBI) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,666,252 shares of the textile maker’s stock after selling 81,191 shares during the period. Principal Financial Group Inc.’s holdings in Hanesbrands were worth $12,247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HBI. Vanguard Group Inc. lifted its position in Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after purchasing an additional 1,362,140 shares during the period. Loews Corp raised its stake in shares of Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after buying an additional 15,206,007 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of Hanesbrands by 2.1% in the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after buying an additional 342,056 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hanesbrands by 18.2% during 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 buying an additional 1,024,308 shares in the last quarter. Finally, Brandes Investment Partners LP boosted 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 buying an additional 183,069 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. UBS Group boosted their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Finally, Barclays raised their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Hanesbrands Price Performance

NYSE HBI opened at $8.22 on Friday. 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 1 year low of $3.58 and a 1 year high of $8.70. The company has a market cap of $2.90 billion, a PE ratio of -12.45 and a beta of 1.58. The stock’s 50-day moving average price is $7.17 and its two-hundred day moving average price is $5.99.

Hanesbrands (NYSE:HBI) last released its quarterly 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 business had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, analysts predict that Hanesbrands Inc. will post 0.39 EPS 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.