Commerce Bank reduced its holdings in Hanesbrands Inc. (NYSE:HBI – Free Report) by 90.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,919 shares of the textile maker’s stock after selling 928,977 shares during the quarter. Commerce Bank’s holdings in Hanesbrands were worth $499,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of Hanesbrands by 2,003.1% during the first quarter. Versant Capital Management Inc now owns 6,162 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 5,869 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Hanesbrands by 1,248.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,394 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 4,994 shares during the period. Harbour Investments Inc. raised its holdings in shares of Hanesbrands by 63.2% during the fourth quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 2,332 shares during the period. Parallel Advisors LLC increased its stake in Hanesbrands by 52.5% in the 4th quarter. Parallel Advisors LLC now owns 7,203 shares of the textile maker’s stock valued at $46,000 after buying an additional 2,480 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Hanesbrands in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 88.35% of the company’s stock.
Wall Street Analyst Weigh In
HBI has been the topic of several research reports. Wedbush reiterated a “neutral” rating and issued a $5.50 price objective on shares of Hanesbrands in a research note on Tuesday. Stifel Nicolaus dropped their price objective on shares of Hanesbrands from $7.00 to $6.00 in a research note on Thursday, May 4th. StockNews.com assumed coverage on shares of Hanesbrands in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Barclays decreased their target price on shares of Hanesbrands from $6.00 to $5.00 in a research report on Thursday, May 4th. Finally, SpectralCast reissued a “maintains” rating on shares of Hanesbrands in a research report on Friday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Hanesbrands has a consensus rating of “Hold” and a consensus price target of $7.61.
Hanesbrands Stock Performance
NYSE HBI opened at $5.49 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 0.60 and a debt-to-equity ratio of 10.57. The firm’s fifty day moving average price is $4.72 and its two-hundred day moving average price is $5.10. Hanesbrands Inc. has a 1 year low of $3.85 and a 1 year high of $11.75. The firm has a market capitalization of $1.92 billion, a P/E ratio of -6.86 and a beta of 1.63.
About Hanesbrands
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.
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