Raymond James & Associates Has $2.35 Million Stake in Hanesbrands Inc. (NYSE:HBI)

Raymond James & Associates reduced its position in shares of Hanesbrands Inc. (NYSE:HBI) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 476,878 shares of the textile maker’s stock after selling 26,786 shares during the period. Raymond James & Associates owned about 0.14% of Hanesbrands worth $2,351,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its position in Hanesbrands by 6.4% during the 4th quarter. International Assets Investment Management LLC now owns 110,030 shares of the textile maker’s stock worth $491,000 after acquiring an additional 6,600 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in Hanesbrands by 46.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,598 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 9,385 shares in the last quarter. Victory Capital Management Inc. increased its stake in Hanesbrands by 13.9% in the 4th quarter. Victory Capital Management Inc. now owns 70,684 shares of the textile maker’s stock valued at $315,000 after buying an additional 8,605 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in Hanesbrands during the 4th quarter worth about $48,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Hanesbrands by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,040,749 shares of the textile maker’s stock worth $18,022,000 after buying an additional 174,055 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Stock Down 0.5 %

HBI stock opened at $6.35 on Tuesday. Hanesbrands Inc. has a 1-year low of $3.54 and a 1-year high of $6.77. The firm has a market capitalization of $2.23 billion, a PE ratio of -105.83 and a beta of 1.59. The business’s 50 day simple moving average is $5.60 and its 200 day simple moving average is $5.22. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. Hanesbrands’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, research analysts anticipate that Hanesbrands Inc. will post 0.35 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research report on Thursday, June 6th. Barclays upped their price objective 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 raised their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, UBS Group upped their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, Hanesbrands presently has an average rating of “Hold” and a consensus target price of $5.80.

Hanesbrands 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.