CarsonAllaria Wealth Management Ltd. Lowers Stake in Hanesbrands Inc. (NYSE:HBI)

CarsonAllaria Wealth Management Ltd. cut its holdings in Hanesbrands Inc. (NYSE:HBI) by 74.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,495 shares of the textile maker’s stock after selling 13,068 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Hanesbrands were worth $33,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares during the period. Loews Corp raised its stake in shares of Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock valued at $143,945,000 after purchasing an additional 15,206,007 shares during the period. Cooke & Bieler LP lifted its position in shares of Hanesbrands by 2.1% during the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock worth $80,506,000 after purchasing an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the period. Finally, Brandes Investment Partners LP grew its stake in shares of Hanesbrands by 3.9% during the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after acquiring an additional 183,069 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analyst Ratings Changes

HBI has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays upped their target price on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, UBS Group raised their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hanesbrands has an average rating of “Hold” and a consensus target price of $5.80.

Hanesbrands Stock Performance

NYSE HBI traded down $0.30 during midday trading on Monday, hitting $7.19. The company had a trading volume of 2,555,937 shares, compared to its average volume of 7,896,451. The firm has a fifty day simple moving average of $6.72 and a two-hundred day simple moving average of $5.63. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -124.17 and a beta of 1.58. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06. Hanesbrands Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $7.57.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. Equities analysts forecast that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

About Hanesbrands

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.