Inspire Investing LLC Sells 8,711 Shares of Hanesbrands Inc. (NYSE:HBI)

Inspire Investing LLC reduced its position in Hanesbrands Inc. (NYSE:HBI) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,357 shares of the textile maker’s stock after selling 8,711 shares during the quarter. Inspire Investing LLC’s holdings in Hanesbrands were worth $451,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Hanesbrands by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock valued at $58,183,000 after purchasing an additional 89,367 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Hanesbrands in the 4th quarter valued at $62,199,000. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 1,024,308 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of Hanesbrands by 3.9% in the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Hanesbrands by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock valued at $32,212,000 after purchasing an additional 11,074 shares during the last quarter. 80.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HBI. UBS Group raised shares of 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. Barclays increased their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Down 2.8 %

Shares of NYSE HBI opened at $8.36 on Friday. The firm has a market cap of $2.95 billion, a PE ratio of -12.66 and a beta of 1.64. Hanesbrands Inc. has a 12-month low of $4.06 and a 12-month high of $9.10. The company’s fifty day simple moving average is $8.41 and its 200 day simple moving average is $7.20. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal 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.