Hanesbrands Inc. (NYSE:HBI) Stake Lowered by Old North State Wealth Management LLC

Old North State Wealth Management LLC cut its holdings in Hanesbrands Inc. (NYSE:HBI) by 7.1% in the fourth quarter, Holdings Channel reports. The fund owned 876,679 shares of the textile maker’s stock after selling 66,700 shares during the quarter. Hanesbrands accounts for approximately 4.0% of Old North State Wealth Management LLC’s portfolio, making the stock its 3rd largest position. Old North State Wealth Management LLC’s holdings in Hanesbrands were worth $7,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Hanesbrands by 203.5% during the 3rd quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock worth $851,000 after acquiring an additional 77,669 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Hanesbrands by 481.0% during the 3rd quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after purchasing an additional 430,534 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Hanesbrands in the 4th quarter worth $62,199,000. Whittier Trust Co. purchased a new position in Hanesbrands during the 3rd quarter worth $51,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Hanesbrands during the 3rd quarter valued at about $785,000. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Trading Up 1.5 %

Shares of NYSE HBI opened at $8.02 on Wednesday. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The firm has a fifty day moving average of $8.38 and a 200 day moving average of $7.37. Hanesbrands Inc. has a one year low of $4.06 and a one year high of $9.10.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HBI. Barclays boosted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.90.

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.