Texas Permanent School Fund Corp Trims Stock Position in Hanesbrands Inc. (NYSE:HBI)

Texas Permanent School Fund Corp cut its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272,264 shares of the textile maker’s stock after selling 33,265 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Hanesbrands worth $1,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HBI. Concord Wealth Partners increased its holdings in Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock valued at $31,000 after buying an additional 3,618 shares during the period. Tradewinds Capital Management LLC acquired a new stake in shares of Hanesbrands during the first quarter worth $35,000. Rothschild Investment LLC acquired a new stake in shares of Hanesbrands during the second quarter worth $39,000. Hollencrest Capital Management acquired a new stake in shares of Hanesbrands during the first quarter worth $41,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Hanesbrands during the first quarter worth $44,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Up 1.6 %

HBI stock opened at $6.96 on Friday. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $7.06. The stock has a market capitalization of $2.45 billion, a PE ratio of -116.00 and a beta of 1.57. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46. The company has a fifty day moving average of $6.03 and a 200-day moving average of $5.37.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS. As a group, analysts expect that Hanesbrands Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HBI shares. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Hanesbrands in a research report on Thursday, June 6th. Barclays boosted their target price on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. UBS Group boosted their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus boosted their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.80.

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.