Patriot Financial Group Insurance Agency LLC Lowers Position in Hanesbrands Inc. (NYSE:HBI)

Patriot Financial Group Insurance Agency LLC trimmed its position in Hanesbrands Inc. (NYSE:HBI) by 48.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,621 shares of the textile maker’s stock after selling 21,971 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Hanesbrands were worth $174,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HBI. Loews Corp boosted its stake in Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hanesbrands by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after purchasing an additional 1,362,140 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Hanesbrands by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after purchasing an additional 1,024,308 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Hanesbrands by 193.4% in the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock worth $4,112,000 after buying an additional 549,855 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Hanesbrands during the 1st quarter valued at approximately $3,065,000. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Performance

Shares of NYSE HBI opened at $7.16 on Thursday. Hanesbrands Inc. has a 12-month low of $3.58 and a 12-month high of $7.57. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -121.83 and a beta of 1.58. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The firm has a 50 day moving average of $6.84 and a 200 day moving average of $5.73.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The firm had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm posted ($0.01) EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts anticipate that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays increased their target price on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their target price 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. Finally, UBS Group increased their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.80.

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.