New South Capital Management Inc. Cuts Stake in Hanesbrands Inc. (NYSE:HBI)

New South Capital Management Inc. cut its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,133,547 shares of the textile maker’s stock after selling 289,207 shares during the period. Hanesbrands accounts for about 2.4% of New South Capital Management Inc.’s holdings, making the stock its 12th largest holding. New South Capital Management Inc.’s holdings in Hanesbrands were worth $58,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sanctuary Advisors LLC boosted its position in Hanesbrands by 2.2% during the fourth quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker’s stock worth $498,000 after acquiring an additional 1,277 shares during the last quarter. GAMMA Investing LLC boosted its position in Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after acquiring an additional 1,895 shares during the last quarter. Avior Wealth Management LLC boosted its position in Hanesbrands by 3.5% during the fourth quarter. Avior Wealth Management LLC now owns 56,700 shares of the textile maker’s stock worth $462,000 after acquiring an additional 1,900 shares during the last quarter. New York State Common Retirement Fund boosted its position in Hanesbrands by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 109,606 shares of the textile maker’s stock worth $892,000 after acquiring an additional 2,436 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after acquiring an additional 2,712 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hanesbrands

In related news, Director Robert F. Moran acquired 74,850 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the acquisition, the director now owns 216,373 shares in the company, valued at $1,300,401.73. The trade was a 52.89 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

HBI has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 target price (down from $8.00) on shares of Hanesbrands in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Hanesbrands has an average rating of “Hold” and a consensus price target of $7.10.

Hanesbrands Stock Performance

NYSE:HBI opened at $5.98 on Thursday. The company’s 50-day moving average is $7.60 and its two-hundred day moving average is $7.49. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. Hanesbrands Inc. has a 1-year low of $4.40 and a 1-year high of $9.10. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -6.49 and a beta of 1.75.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The firm had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. Analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current year.

Hanesbrands Profile

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.