Rhumbline Advisers Sells 30,914 Shares of Hanesbrands Inc. (NYSE:HBI)

Rhumbline Advisers trimmed its position in Hanesbrands Inc. (NYSE:HBI) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,047,746 shares of the textile maker’s stock after selling 30,914 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Hanesbrands worth $5,165,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its stake in Hanesbrands by 16.6% during the second quarter. Waterfront Wealth Inc. now owns 339,222 shares of the textile maker’s stock valued at $1,672,000 after buying an additional 48,403 shares during the period. nVerses Capital LLC bought a new stake in Hanesbrands during the second quarter worth about $86,000. Rothschild Investment LLC purchased a new stake in Hanesbrands in the second quarter worth approximately $39,000. Sage Rhino Capital LLC bought a new position in Hanesbrands during the second quarter valued at approximately $63,000. Finally, Loews Corp raised its stake in shares of Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBI. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Hanesbrands in a research note on Thursday, June 6th. Barclays boosted their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their price target on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, UBS Group upped their target price on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Stock Performance

Shares of HBI opened at $6.76 on Monday. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $6.89. The company has a 50-day simple moving average of $5.87 and a two-hundred day simple moving average of $5.33. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The firm has a market capitalization of $2.38 billion, a PE ratio of -112.67 and a beta of 1.57.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The company had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts anticipate that Hanesbrands Inc. will post 0.35 EPS for the current fiscal year.

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.