Partnership Wealth Management LLC Reduces Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Partnership Wealth Management LLC lowered its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 97.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,357 shares of the textile maker’s stock after selling 414,306 shares during the quarter. Partnership Wealth Management LLC’s holdings in Hanesbrands were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in HBI. Loews Corp boosted its stake in shares of Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares during the last quarter. Gate City Capital Management LLC bought a new position in shares of Hanesbrands in the fourth quarter worth about $9,812,000. Vanguard Group Inc. lifted its position in shares of Hanesbrands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 purchasing an additional 1,024,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Hanesbrands by 17.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,806,697 shares of the textile maker’s stock valued at $16,978,000 after buying an additional 561,039 shares in the last quarter. Institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays boosted their price objective on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. UBS Group boosted their price target on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Finally, Stifel Nicolaus increased their price objective 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 analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Price Performance

NYSE:HBI opened at $7.30 on Wednesday. The business’s 50-day moving average is $6.44 and its 200 day moving average is $5.52. Hanesbrands Inc. has a 12 month low of $3.58 and a 12 month high of $7.44. The company has a market capitalization of $2.57 billion, a P/E ratio of -123.17 and a beta of 1.58. 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 (NYSE:HBI) last issued its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (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 business had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

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.