CIBC Asset Management Inc Decreases Holdings in Hanesbrands Inc. (NYSE:HBI)

CIBC Asset Management Inc lowered its position in shares of Hanesbrands Inc. (NYSE:HBI) by 33.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,372 shares of the textile maker’s stock after selling 11,424 shares during the period. CIBC Asset Management Inc’s holdings in Hanesbrands were worth $182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of Hanesbrands by 203.5% during the third quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock worth $851,000 after purchasing an additional 77,669 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Hanesbrands during the fourth quarter worth about $62,199,000. International Assets Investment Management LLC increased its position in shares of Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock worth $3,822,000 after purchasing an additional 430,534 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Hanesbrands during the third quarter worth about $785,000. Finally, XTX Topco Ltd acquired a new stake in shares of Hanesbrands during the third quarter worth about $996,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HBI has been the topic of several recent research reports. Stifel Nicolaus restated a “hold” rating and issued a $7.00 price target (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Finally, Barclays boosted their price target on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.10.

Hanesbrands Stock Performance

NYSE HBI opened at $6.44 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The business’s 50 day moving average is $7.78 and its two-hundred day moving average is $7.48. Hanesbrands Inc. has a 12-month low of $4.40 and a 12-month high of $9.10. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -7.00 and a beta of 1.63.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The company had revenue of $888.47 million for the quarter, compared to analysts’ expectations of $899.30 million. Research analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert F. Moran purchased 74,850 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $6.01 per share, with a total value of $449,848.50. Following the purchase, the director now directly owns 216,373 shares of the company’s stock, valued at $1,300,401.73. The trade was a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

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.