Principal Financial Group Inc. lessened its stake in Hanesbrands Inc. (NYSE:HBI – Free Report) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,988,056 shares of the textile maker’s stock after selling 115,409 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of Hanesbrands worth $9,026,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of HBI. Spire Wealth Management raised its stake in Hanesbrands by 409.9% in the first quarter. Spire Wealth Management now owns 4,875 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 3,919 shares in the last quarter. Fifth Third Bancorp raised its stake in Hanesbrands by 39.1% in the second quarter. Fifth Third Bancorp now owns 7,690 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 2,163 shares in the last quarter. Harbour Investments Inc. raised its stake in Hanesbrands by 63.2% in the fourth quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 2,332 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in Hanesbrands in the second quarter valued at about $45,000. Finally, Money Concepts Capital Corp raised its stake in Hanesbrands by 91.1% in the fourth quarter. Money Concepts Capital Corp now owns 7,944 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 3,788 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
Wall Street Analysts Forecast Growth
HBI has been the topic of a number of recent analyst reports. StockNews.com upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. Wedbush reiterated a “neutral” rating and issued a $5.50 target price on shares of Hanesbrands in a research report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.75.
Hanesbrands Stock Performance
NYSE:HBI opened at $4.00 on Tuesday. The stock has a market cap of $1.40 billion, a P/E ratio of -2.74 and a beta of 1.71. The company has a current ratio of 1.57, a quick ratio of 0.65 and a debt-to-equity ratio of 12.08. The stock’s 50-day moving average is $4.17 and its 200-day moving average is $4.53. Hanesbrands Inc. has a 1-year low of $3.54 and a 1-year high of $8.80.
Hanesbrands (NYSE:HBI – Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The textile maker reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hanesbrands had a positive return on equity of 9.62% and a negative net margin of 8.84%. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that Hanesbrands Inc. will post 0.12 earnings per share for the current year.
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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