Raymond James & Associates Lowers Stock Position in Hanesbrands Inc. (NYSE:HBI)

Raymond James & Associates reduced its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 509,755 shares of the textile maker’s stock after selling 27,515 shares during the period. Raymond James & Associates’ holdings in Hanesbrands were worth $2,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Harbour Investments Inc. lifted its position in shares of Hanesbrands by 63.2% during the 4th quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock valued at $38,000 after buying an additional 2,332 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Hanesbrands in the 3rd quarter worth approximately $40,000. Journey Strategic Wealth LLC bought a new position in Hanesbrands in the 3rd quarter worth approximately $41,000. Sherbrooke Park Advisers LLC bought a new position in Hanesbrands in the 3rd quarter worth approximately $42,000. Finally, AXQ Capital LP bought a new position in Hanesbrands in the 3rd quarter worth approximately $43,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Down 0.2 %

NYSE HBI opened at $4.68 on Wednesday. The company has a debt-to-equity ratio of 7.72, a quick ratio of 0.65 and a current ratio of 1.64. The company has a market capitalization of $1.65 billion, a P/E ratio of -93.58 and a beta of 1.58. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $5.86. The stock has a 50 day moving average price of $5.10 and a 200-day moving average price of $4.48.

Hanesbrands (NYSE:HBI) last posted its 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 firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.36 billion. Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. The firm’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, equities analysts predict that Hanesbrands Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup upped their price target on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Wedbush upped their price target on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Hanesbrands Company 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.