Victory Capital Management Inc. Reduces Position in Hanesbrands Inc. (NYSE:HBI)

Victory Capital Management Inc. lessened its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,631 shares of the textile maker’s stock after selling 2,555 shares during the period. Victory Capital Management Inc.’s holdings in Hanesbrands were worth $497,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares during the last quarter. Whittier Trust Co. purchased a new stake in Hanesbrands during the 3rd quarter worth approximately $51,000. Rothschild Investment LLC purchased a new stake in shares of Hanesbrands in the 2nd quarter valued at $39,000. Intech Investment Management LLC purchased a new stake in shares of Hanesbrands in the 2nd quarter valued at $51,000. Finally, ERTS Wealth Advisors LLC purchased a new stake in shares of Hanesbrands in the 3rd quarter valued at $76,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Performance

HBI opened at $8.70 on Friday. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The firm has a fifty day moving average price of $7.55 and a 200 day moving average price of $6.25. Hanesbrands Inc. has a 1 year low of $3.58 and a 1 year high of $9.10. The stock has a market cap of $3.07 billion, a P/E ratio of -13.18 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million during the quarter, compared to analysts’ expectations of $936.47 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on HBI. Barclays upped their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus upped their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $11.00 in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.90.

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.