Hanesbrands Inc. (NYSE:HBI) Position Cut by South Dakota Investment Council

South Dakota Investment Council trimmed its holdings in Hanesbrands Inc. (NYSE:HBI) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,662,415 shares of the textile maker’s stock after selling 266,700 shares during the quarter. South Dakota Investment Council owned about 0.47% of Hanesbrands worth $7,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Hanesbrands in the 3rd quarter worth approximately $40,000. Alhambra Investment Management LLC bought a new position in Hanesbrands in the 4th quarter worth approximately $46,000. Journey Strategic Wealth LLC bought a new position in Hanesbrands in the 3rd quarter worth approximately $41,000. Sherbrooke Park Advisers LLC bought a new position in Hanesbrands in the 3rd quarter worth approximately $42,000. Finally, AXQ Capital LP bought a new position in Hanesbrands during the 3rd quarter valued at $43,000. 80.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HBI has been the subject of a number of research reports. Wedbush increased their price target on Hanesbrands from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Citigroup increased their price target on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Hanesbrands Price Performance

Shares of HBI traded down $0.07 during trading hours on Wednesday, hitting $4.83. 4,625,959 shares of the company were exchanged, compared to its average volume of 8,852,458. The company has a market capitalization of $1.70 billion, a PE ratio of -96.78 and a beta of 1.58. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. The firm has a fifty day simple moving average of $5.12 and a 200-day simple moving average of $4.51. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $5.86.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, February 15th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. Hanesbrands’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. As a group, sell-side analysts predict that Hanesbrands Inc. will post 0.44 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.