Allspring Global Investments Holdings LLC decreased its holdings in Hanesbrands Inc. (NYSE:HBI – Free Report) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 253,313 shares of the textile maker’s stock after selling 25,710 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Hanesbrands worth $1,150,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Hanesbrands by 16.6% in the 1st quarter. BlackRock Inc. now owns 46,483,518 shares of the textile maker’s stock valued at $244,503,000 after buying an additional 6,630,208 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hanesbrands by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 34,394,827 shares of the textile maker’s stock worth $512,139,000 after purchasing an additional 210,175 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Hanesbrands by 3.4% in the 1st quarter. Cooke & Bieler LP now owns 24,045,638 shares of the textile maker’s stock worth $126,480,000 after purchasing an additional 793,509 shares during the last quarter. Shapiro Capital Management LLC grew its holdings in shares of Hanesbrands by 9.8% in the 1st quarter. Shapiro Capital Management LLC now owns 15,351,432 shares of the textile maker’s stock worth $228,583,000 after purchasing an additional 1,371,689 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Hanesbrands by 3.2% in the 2nd quarter. State Street Corp now owns 12,121,959 shares of the textile maker’s stock worth $124,735,000 after purchasing an additional 376,520 shares during the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
Hanesbrands Price Performance
Shares of NYSE HBI opened at $4.42 on Wednesday. The firm has a market capitalization of $1.55 billion, a PE ratio of -3.95 and a beta of 1.71. The company has a current ratio of 1.67, a quick ratio of 0.61 and a debt-to-equity ratio of 10.07. Hanesbrands Inc. has a 1 year low of $3.54 and a 1 year high of $8.80. The firm’s 50-day moving average is $4.32 and its 200-day moving average is $4.57.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $5.50 target price on shares of Hanesbrands in a report on Tuesday, August 8th. StockNews.com assumed coverage on shares of Hanesbrands in a report on Thursday, October 5th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Hanesbrands has a consensus rating of “Hold” and a consensus target price of $5.75.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.
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