Mission Wealth Management LP Decreases Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Mission Wealth Management LP decreased its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 7.4% during the first quarter, Holdings Channel.com reports. The firm owned 91,245 shares of the textile maker’s stock after selling 7,332 shares during the period. Mission Wealth Management LP’s holdings in Hanesbrands were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Hanesbrands by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 38,903,759 shares of the textile maker’s stock valued at $173,511,000 after purchasing an additional 597,523 shares in the last quarter. Loews Corp raised its stake in shares of Hanesbrands by 54.2% in the fourth quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock valued at $73,590,000 after acquiring an additional 5,800,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Hanesbrands by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,749,433 shares of the textile maker’s stock valued at $25,642,000 after acquiring an additional 632,865 shares during the period. Brandes Investment Partners LP raised its stake in shares of Hanesbrands by 10.9% in the fourth quarter. Brandes Investment Partners LP now owns 4,298,017 shares of the textile maker’s stock valued at $19,169,000 after acquiring an additional 423,214 shares during the period. Finally, Morningstar Investment Services LLC raised its stake in shares of Hanesbrands by 93.1% in the fourth quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock valued at $19,051,000 after acquiring an additional 2,069,204 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Down 0.4 %

HBI stock traded down $0.02 during trading on Friday, hitting $4.76. The company had a trading volume of 5,968,971 shares, compared to its average volume of 5,756,967. The firm has a market capitalization of $1.67 billion, a P/E ratio of -79.33 and a beta of 1.59. Hanesbrands Inc. has a 52-week low of $3.54 and a 52-week high of $5.86. The company has a 50 day simple moving average of $4.90 and a 200-day simple moving average of $4.81. The company has a quick ratio of 0.62, a current ratio of 1.59 and a debt-to-equity ratio of 9.57.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, May 9th. The textile maker reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue was down 16.8% compared to the same quarter last year. As a group, research analysts forecast that Hanesbrands Inc. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HBI shares. Barclays increased their target price on shares of Hanesbrands from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Citigroup increased their target price on shares of Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.00.

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.