California Public Employees Retirement System Decreases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Posted by Defense World Staff on May 19th, 2023

California Public Employees Retirement System lessened its stake in shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 762,249 shares of the textile maker’s stock after selling 22,818 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Hanesbrands worth $4,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Hanesbrands by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 683,233 shares of the textile maker’s stock worth $10,174,000 after purchasing an additional 26,548 shares during the period. US Bancorp DE increased its stake in Hanesbrands by 62.8% in the first quarter. US Bancorp DE now owns 41,121 shares of the textile maker’s stock worth $613,000 after purchasing an additional 15,870 shares during the period. Private Advisor Group LLC purchased a new stake in Hanesbrands in the first quarter worth $160,000. Bank of Montreal Can increased its stake in Hanesbrands by 22.3% in the first quarter. Bank of Montreal Can now owns 361,860 shares of the textile maker’s stock worth $5,608,000 after purchasing an additional 65,863 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Hanesbrands by 38.9% in the first quarter. MetLife Investment Management LLC now owns 235,075 shares of the textile maker’s stock worth $3,500,000 after purchasing an additional 65,846 shares during the period. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays reduced their target price on Hanesbrands from $6.00 to $5.00 in a research note on Thursday, May 4th. Credit Suisse Group reduced their target price on Hanesbrands from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. TheStreet lowered Hanesbrands from a “c” rating to a “d+” rating in a research note on Thursday, February 2nd. SpectralCast reissued a “maintains” rating on shares of Hanesbrands in a research report on Friday, April 28th. Finally, Stifel Nicolaus dropped their price target on Hanesbrands from $7.00 to $6.00 in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Hanesbrands has an average rating of “Hold” and an average price target of $8.60.

Hanesbrands Price Performance

Shares of HBI stock opened at $4.23 on Friday. Hanesbrands Inc. has a 1-year low of $3.85 and a 1-year high of $12.13. The stock’s 50-day moving average is $4.83 and its 200 day moving average is $6.01. The company has a market cap of $1.48 billion, a P/E ratio of -5.29 and a beta of 1.58. The company has a debt-to-equity ratio of 10.57, a current ratio of 1.72 and a quick ratio of 0.60.

Hanesbrands (NYSE:HBI – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The textile maker reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Hanesbrands had a positive return on equity of 38.23% and a negative net margin of 4.64%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

About Hanesbrands

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Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.

California Public Employees Retirement System Decreases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Wall Street Analyst Weigh In

Hanesbrands Price Performance

About Hanesbrands

Further Reading

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