Truist Financial Corp Has $633,000 Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Truist Financial Corp reduced its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 36.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,459 shares of the textile maker’s stock after selling 74,177 shares during the quarter. Truist Financial Corp’s holdings in Hanesbrands were worth $633,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HBI. Goldman Sachs Group Inc. grew its holdings 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 worth $16,978,000 after purchasing an additional 561,039 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hanesbrands by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 38,903,759 shares of the textile maker’s stock worth $173,511,000 after purchasing an additional 597,523 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Hanesbrands during the 4th quarter worth $439,000. HighPoint Advisor Group LLC acquired a new stake in shares of Hanesbrands during the 4th quarter worth $77,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hanesbrands during the 1st quarter worth $51,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Price Performance

Hanesbrands stock opened at $7.37 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The company has a market capitalization of $2.59 billion, a PE ratio of -122.83 and a beta of 1.58. Hanesbrands Inc. has a 12 month low of $3.58 and a 12 month high of $7.50. The stock has a 50-day moving average price of $6.58 and a two-hundred day moving average price of $5.57.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. Analysts expect that Hanesbrands Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on HBI shares. Stifel Nicolaus upped their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. UBS Group upped their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Finally, Barclays upped their price objective on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands currently has an average rating of “Hold” and an average 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.