PNC Financial Services Group Inc. Trims Position in Hanesbrands Inc. (NYSE:HBI)

PNC Financial Services Group Inc. cut its position in Hanesbrands Inc. (NYSE:HBI) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,382 shares of the textile maker’s stock after selling 9,702 shares during the period. PNC Financial Services Group Inc.’s holdings in Hanesbrands were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HBI. Smartleaf Asset Management LLC boosted its position in shares of Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after acquiring an additional 2,712 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of Hanesbrands during the fourth quarter worth $46,000. GAMMA Investing LLC boosted its position in shares of Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after acquiring an additional 1,895 shares during the last quarter. Allworth Financial LP boosted its position in shares of Hanesbrands by 459.2% during the fourth quarter. Allworth Financial LP now owns 8,220 shares of the textile maker’s stock worth $69,000 after acquiring an additional 6,750 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of Hanesbrands during the third quarter worth $77,000. Institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HBI. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Stifel Nicolaus reiterated a “hold” rating and set a $7.00 price objective (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. 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 presently has a consensus rating of “Hold” and an average target price of $7.10.

Insider Transactions at Hanesbrands

In other news, Director Robert F. Moran bought 74,850 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the acquisition, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Hanesbrands Price Performance

HBI stock opened at $6.08 on Thursday. Hanesbrands Inc. has a 52 week low of $4.40 and a 52 week high of $9.10. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. The company has a fifty day simple moving average of $7.13 and a two-hundred day simple moving average of $7.45. The firm has a market capitalization of $2.15 billion, a P/E ratio of -6.60 and a beta of 1.75.

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. The firm had revenue of $888.47 million during the quarter, compared to analyst estimates of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Analysts anticipate that Hanesbrands Inc. will post 0.53 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.