Keynote Financial Services LLC Reduces Stock Position in Hanesbrands Inc. (NYSE:HBI)

Keynote Financial Services LLC trimmed its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,673 shares of the textile maker’s stock after selling 2,445 shares during the quarter. Keynote Financial Services LLC’s holdings in Hanesbrands were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Loews Corp raised its position in shares of Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after buying an additional 15,206,007 shares in the last quarter. Vanguard Group Inc. increased its stake in Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after acquiring an additional 1,362,140 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hanesbrands by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after acquiring an additional 1,024,308 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Hanesbrands by 193.4% during the second quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock worth $4,112,000 after purchasing an additional 549,855 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Hanesbrands in the first quarter worth approximately $3,065,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

HBI stock opened at $8.38 on Friday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -9.86 and a beta of 1.58. The firm’s 50-day moving average price is $6.98 and its two-hundred day moving average price is $5.84. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. Hanesbrands Inc. has a 12-month low of $3.58 and a 12-month high of $8.70.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. Hanesbrands’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. As a group, equities analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on HBI. Stifel Nicolaus lifted their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. UBS Group increased 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. Finally, Barclays lifted their price target on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average target price of $5.80.

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.