Bank of New York Mellon Corp Sells 163,667 Shares of Hanesbrands Inc. (NYSE:HBI)

Bank of New York Mellon Corp trimmed its position in Hanesbrands Inc. (NYSE:HBI) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,395,564 shares of the textile maker’s stock after selling 163,667 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Hanesbrands worth $13,822,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC lifted its stake in shares of Hanesbrands by 2,278.8% in the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock worth $28,000 after acquiring an additional 3,327 shares during the period. CX Institutional bought a new stake in shares of Hanesbrands in the first quarter valued at $34,000. Transce3nd LLC bought a new position in Hanesbrands during the fourth quarter worth about $45,000. Fifth Third Bancorp boosted its holdings in shares of Hanesbrands by 37.8% in the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker’s stock worth $48,000 after acquiring an additional 2,267 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Hanesbrands during the 4th quarter valued at $56,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Wall Street Zen raised Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Barclays set a $6.00 target price on shares of Hanesbrands and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. UBS Group raised their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.75.

Hanesbrands Trading Down 0.9%

Shares of Hanesbrands stock opened at $4.52 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 53.45. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -5.38 and a beta of 1.47. Hanesbrands Inc. has a twelve month low of $4.02 and a twelve month high of $9.10. The business has a 50-day moving average price of $4.81 and a 200-day moving average price of $5.76.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $760.15 million during the quarter, compared to analysts’ expectations of $757.42 million. Hanesbrands had a positive return on equity of 262.15% and a negative net margin of 8.12%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. Equities research analysts anticipate that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

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.