Inspire Investing LLC Lowers Stake in Hanesbrands Inc. (NYSE:HBI)

Inspire Investing LLC lessened its holdings in Hanesbrands Inc. (NYSE:HBI) by 20.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,068 shares of the textile maker’s stock after selling 16,711 shares during the quarter. Inspire Investing LLC’s holdings in Hanesbrands were worth $471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HBI. Loews Corp grew its stake in shares of Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after buying an additional 15,206,007 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after acquiring an additional 1,362,140 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hanesbrands by 18.2% during 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 acquiring an additional 1,024,308 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Hanesbrands by 17.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,806,697 shares of the textile maker’s stock worth $16,978,000 after purchasing an additional 561,039 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Hanesbrands by 193.4% in the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock worth $4,112,000 after purchasing an additional 549,855 shares in the last quarter. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Up 0.6 %

Shares of HBI stock opened at $7.28 on Tuesday. 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 Inc. has a 12-month low of $3.58 and a 12-month high of $7.44. The stock has a market capitalization of $2.56 billion, a P/E ratio of -121.33 and a beta of 1.58. The firm’s 50 day moving average is $6.54 and its 200 day moving average is $5.56.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. UBS Group upped their price objective on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus lifted their target price on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average price target 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.