PNC Financial Services Group Inc. Sells 30,993 Shares of Hanesbrands Inc. $HBI

PNC Financial Services Group Inc. decreased its position in Hanesbrands Inc. (NYSE:HBI) by 46.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,389 shares of the textile maker’s stock after selling 30,993 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hanesbrands were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in HBI. Wells Fargo & Company MN increased its stake in Hanesbrands by 6.6% in the 4th quarter. Wells Fargo & Company MN now owns 643,556 shares of the textile maker’s stock worth $5,239,000 after acquiring an additional 39,868 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Hanesbrands by 3.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 245,359 shares of the textile maker’s stock worth $1,997,000 after acquiring an additional 7,097 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Hanesbrands in the 4th quarter worth approximately $5,395,000. Sterling Capital Management LLC increased its stake in Hanesbrands by 10,997.2% in the 4th quarter. Sterling Capital Management LLC now owns 39,839 shares of the textile maker’s stock worth $324,000 after acquiring an additional 39,480 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in Hanesbrands by 5.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 36,964 shares of the textile maker’s stock worth $301,000 after acquiring an additional 1,973 shares during the last quarter. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

HBI opened at $6.44 on Monday. The business has a fifty day moving average of $4.70 and a 200 day moving average of $5.25. Hanesbrands Inc. has a 52-week low of $3.96 and a 52-week high of $9.10. The company has a quick ratio of 0.74, a current ratio of 1.52 and a debt-to-equity ratio of 13.62. The stock has a market cap of $2.28 billion, a P/E ratio of 26.83 and a beta of 1.40.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, August 7th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Hanesbrands had a return on equity of 226.31% and a net margin of 2.49%. The company had revenue of $991.33 million during the quarter, compared to analysts’ expectations of $971.93 million. During the same quarter in the previous year, the business earned $0.15 EPS. Hanesbrands’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hanesbrands Inc. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

HBI has been the topic of several analyst reports. UBS Group boosted their target price on Hanesbrands from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Barclays set a $6.00 target price on Hanesbrands and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Wall Street Zen raised Hanesbrands from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company raised Hanesbrands from a “strong sell” rating to a “hold” rating and boosted their target price for the company from $5.00 to $6.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

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.