Public Sector Pension Investment Board Decreases Stake in Hanesbrands Inc. (NYSE:HBI)

Public Sector Pension Investment Board trimmed its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 746,139 shares of the textile maker’s stock after selling 27,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Hanesbrands were worth $5,484,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Hanesbrands by 388.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock valued at $5,456,000 after purchasing an additional 590,493 shares in the last quarter. FMR LLC boosted its stake in shares of Hanesbrands by 203.5% during the 3rd 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. The Manufacturers Life Insurance Company grew its position in shares of Hanesbrands by 4.5% during the third quarter. The Manufacturers Life Insurance Company now owns 184,714 shares of the textile maker’s stock worth $1,358,000 after buying an additional 7,897 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hanesbrands by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock worth $32,212,000 after buying an additional 11,074 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Hanesbrands in the third quarter valued at $785,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays raised their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus lifted their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, UBS Group upgraded 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 research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.90.

Hanesbrands Trading Down 0.5 %

NYSE HBI opened at $8.70 on Monday. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. Hanesbrands Inc. has a one year low of $3.58 and a one year high of $9.10. The company has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $6.27. The firm has a market capitalization of $3.07 billion, a PE 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 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

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.