Hanesbrands Inc. (NYSE:HBI) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. cut its stake in Hanesbrands Inc. (NYSE:HBI) by 29.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,922 shares of the textile maker’s stock after selling 94,472 shares during the period. Farmers & Merchants Investments Inc. owned 0.06% of Hanesbrands worth $1,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of HBI. Sherbrooke Park Advisers LLC acquired a new stake in shares of Hanesbrands during the third quarter worth $42,000. AXQ Capital LP acquired a new stake in shares of Hanesbrands during the third quarter worth $43,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Hanesbrands during the first quarter worth $44,000. Alhambra Investment Management LLC acquired a new stake in shares of Hanesbrands during the fourth quarter worth $46,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in shares of Hanesbrands during the fourth quarter worth $48,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Wedbush restated a “neutral” rating and set a $5.00 price target on shares of Hanesbrands in a research report on Thursday, June 6th. Finally, Barclays upped their price target on shares of Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands has an average rating of “Hold” and an average target price of $5.00.

Hanesbrands Trading Down 1.0 %

Hanesbrands stock opened at $4.80 on Wednesday. The company has a 50-day simple moving average of $4.89 and a 200-day simple moving average of $4.80. The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $5.86.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. Hanesbrands’s revenue was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, sell-side analysts forecast that Hanesbrands Inc. will post 0.46 EPS for the current year.

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.