Allspring Global Investments Holdings LLC Sells 94,948 Shares of Hanesbrands Inc. (NYSE:HBI)

Allspring Global Investments Holdings LLC decreased its position in Hanesbrands Inc. (NYSE:HBI) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,539 shares of the textile maker’s stock after selling 94,948 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hanesbrands were worth $743,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HBI. Landscape Capital Management L.L.C. boosted its holdings in Hanesbrands by 609.5% in the third quarter. Landscape Capital Management L.L.C. now owns 1,294,682 shares of the textile maker’s stock valued at $5,127,000 after acquiring an additional 1,112,202 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in Hanesbrands by 21.7% in the third quarter. Brandes Investment Partners LP now owns 3,874,803 shares of the textile maker’s stock valued at $15,344,000 after acquiring an additional 691,149 shares during the last quarter. Advisors Preferred LLC bought a new position in Hanesbrands in the third quarter valued at about $1,569,000. International Assets Investment Management LLC boosted its holdings in Hanesbrands by 374.5% in the fourth quarter. International Assets Investment Management LLC now owns 490,735 shares of the textile maker’s stock valued at $2,189,000 after acquiring an additional 387,305 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its holdings in Hanesbrands by 160.4% in the third quarter. Wolverine Asset Management LLC now owns 435,051 shares of the textile maker’s stock valued at $1,723,000 after acquiring an additional 267,988 shares during the last quarter. Institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HBI. Citigroup raised their target price on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Wedbush raised their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

Hanesbrands Trading Down 0.8 %

NYSE HBI opened at $4.86 on Thursday. The firm has a market cap of $1.71 billion, a P/E ratio of -97.18 and a beta of 1.58. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. The stock’s 50-day moving average is $5.12 and its 200-day moving average is $4.51. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $5.86.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.36 billion. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. Sell-side analysts anticipate that Hanesbrands Inc. will post 0.44 earnings per share for the current fiscal year.

About Hanesbrands

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.