Principal Financial Group Inc. Reduces Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Principal Financial Group Inc. cut its holdings in Hanesbrands Inc. (NYSE:HBI) by 4.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,666,252 shares of the textile maker’s stock after selling 81,191 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Hanesbrands worth $12,247,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Hanesbrands by 203.5% during the third quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock valued at $851,000 after buying an additional 77,669 shares during the last quarter. International Assets Investment Management LLC lifted its position in Hanesbrands by 481.0% during the 3rd quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock worth $3,822,000 after acquiring an additional 430,534 shares during the period. Brandes Investment Partners LP grew its stake in Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Hanesbrands in the third quarter worth about $51,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Hanesbrands during the third quarter worth about $785,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Wall Street Analyst Weigh In

HBI has been the subject of a number of recent research reports. Barclays raised their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.90.

Hanesbrands Stock Performance

HBI opened at $8.23 on Monday. The firm has a fifty day moving average price of $8.06 and a 200 day moving average price of $6.75. Hanesbrands Inc. has a 1 year low of $3.88 and a 1 year high of $9.10. The stock has a market cap of $2.90 billion, a P/E ratio of -12.47 and a beta of 1.64. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90.

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, topping 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 business had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current 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.