Bank of America Corp DE Lowers Stock Position in Hanesbrands Inc. (NYSE:HBI)

Bank of America Corp DE cut its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,299,960 shares of the textile maker’s stock after selling 598,831 shares during the quarter. Bank of America Corp DE owned 0.65% of Hanesbrands worth $18,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. grew its position in Hanesbrands by 147.7% during the fourth quarter. American Century Companies Inc. now owns 5,362,455 shares of the textile maker’s stock valued at $43,650,000 after acquiring an additional 3,197,544 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Hanesbrands by 28.2% in the 4th quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker’s stock valued at $81,009,000 after purchasing an additional 2,189,844 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Hanesbrands by 60.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker’s stock valued at $44,715,000 after purchasing an additional 2,069,315 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Hanesbrands during the 4th quarter valued at $7,922,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Hanesbrands in the 4th quarter worth $7,146,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

HBI stock opened at $5.35 on Wednesday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -5.82 and a beta of 1.50. The firm’s 50-day moving average price is $5.09 and its two-hundred day moving average price is $6.82. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a 12-month low of $4.02 and a 12-month high of $9.10.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. The company had revenue of $760.15 million for the quarter, compared to analysts’ expectations of $757.42 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. Hanesbrands’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. As a group, equities analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on HBI shares. Wells Fargo & Company upped their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Wednesday, May 14th. Barclays increased their target price on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Tuesday. UBS Group raised their price target on Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus lowered their price objective on Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average price target of $5.60.

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.