Hanesbrands Inc. (NYSE:HBI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,510 shares of the textile maker’s stock after selling 6,844 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hanesbrands were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Hanesbrands by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,720,247 shares of the textile maker’s stock valued at $14,003,000 after buying an additional 53,995 shares during the last quarter. FMR LLC grew its stake in Hanesbrands by 203.5% in the 3rd quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock worth $851,000 after acquiring an additional 77,669 shares during the period. Alberta Investment Management Corp raised its holdings in Hanesbrands by 31.4% in the 4th quarter. Alberta Investment Management Corp now owns 398,423 shares of the textile maker’s stock valued at $3,243,000 after acquiring an additional 95,177 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Hanesbrands during the 4th quarter worth $62,199,000. Finally, Taika Capital LP acquired a new stake in shares of Hanesbrands during the fourth quarter worth $1,054,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HBI. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $11.00 in a research note on Tuesday, November 26th. Stifel Nicolaus reiterated 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.10.

Insider Transactions at Hanesbrands

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now owns 216,373 shares in the company, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Hanesbrands Price Performance

HBI stock opened at $6.01 on Monday. The company has a market cap of $2.12 billion, a PE ratio of -6.53 and a beta of 1.75. 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 stock has a 50-day moving average price of $6.99 and a two-hundred day moving average price of $7.45. Hanesbrands Inc. has a 12-month low of $4.40 and a 12-month high of $9.10.

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

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.