Sanctuary Advisors LLC Decreases Stake in Hanesbrands Inc. (NYSE:HBI)

Sanctuary Advisors LLC reduced its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,437 shares of the textile maker’s stock after selling 7,733 shares during the quarter. Sanctuary Advisors LLC’s holdings in Hanesbrands were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of HBI. Blue Trust Inc. lifted its stake in Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares during the period. Whittier Trust Co. bought a new position in Hanesbrands during the third quarter valued at approximately $51,000. Rothschild Investment LLC purchased a new stake in Hanesbrands in the second quarter worth approximately $39,000. Intech Investment Management LLC purchased a new stake in Hanesbrands in the second quarter worth approximately $51,000. Finally, ERTS Wealth Advisors LLC bought a new stake in Hanesbrands in the 3rd quarter worth approximately $76,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Performance

Shares of HBI opened at $8.39 on Friday. Hanesbrands Inc. has a 52 week low of $3.88 and a 52 week high of $9.10. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -12.71 and a beta of 1.63. The business has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $6.69.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $936.47 million. During the same period in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts expect that Hanesbrands Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBI. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Barclays boosted their price target on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.90.

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.