Hanesbrands Inc. (NYSE:HBI) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its position in Hanesbrands Inc. (NYSE:HBI) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,611 shares of the textile maker’s stock after selling 7,459 shares during the quarter. Advisors Asset Management Inc.’s holdings in Hanesbrands were worth $438,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Hanesbrands in the second quarter valued at approximately $39,000. Blue Trust Inc. grew its position in Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares during the last quarter. Intech Investment Management LLC acquired a new position in Hanesbrands in the second quarter valued at $51,000. Whittier Trust Co. purchased a new stake in shares of Hanesbrands in the third quarter valued at about $51,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Hanesbrands during the second quarter worth about $55,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of HBI opened at $8.75 on Thursday. 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 stock’s 50 day moving average is $7.45 and its two-hundred day moving average is $6.19. Hanesbrands Inc. has a twelve month low of $3.58 and a twelve month high of $9.10. The firm has a market capitalization of $3.08 billion, a PE ratio of -13.25 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $936.47 million. During the same period last year, the firm earned $0.10 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

HBI has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays boosted their target price on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $11.00 in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.90.

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.