Truist Financial Corp Has $259,000 Stock Position in Hanesbrands Inc. (NYSE:HBI)

Truist Financial Corp lessened its position in shares of Hanesbrands Inc. (NYSE:HBI) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,763 shares of the textile maker’s stock after selling 14,118 shares during the quarter. Truist Financial Corp’s holdings in Hanesbrands were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in Hanesbrands during the fourth quarter worth $62,199,000. JPMorgan Chase & Co. lifted its holdings in shares of Hanesbrands by 484.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock worth $15,757,000 after acquiring an additional 1,776,690 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Hanesbrands during the 3rd quarter valued at about $7,249,000. BNP Paribas Financial Markets increased its stake in Hanesbrands by 388.9% in the third quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock valued at $5,456,000 after acquiring an additional 590,493 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Hanesbrands in the fourth quarter worth about $2,066,000. 80.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HBI shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of Hanesbrands in a report on Friday, February 14th. 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. Finally, UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.10.

Hanesbrands Stock Up 1.8 %

NYSE HBI opened at $5.98 on Thursday. The firm has a market cap of $2.11 billion, a PE ratio of -6.49 and a beta of 1.75. Hanesbrands Inc. has a one year low of $4.40 and a one year high of $9.10. The stock’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.49. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $899.30 million. As a group, sell-side analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Hanesbrands

In other news, Director Robert F. Moran acquired 74,850 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the transaction, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company 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.