Hanesbrands Inc. (NYSE:HBI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Hanesbrands Inc. (NYSE:HBI) by 4.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,666,252 shares of the textile maker’s stock after selling 81,191 shares during the quarter. Principal Financial Group Inc.’s holdings in Hanesbrands were worth $12,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of Hanesbrands during the second quarter worth $39,000. Blue Trust Inc. raised its holdings in Hanesbrands by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares during the last quarter. Intech Investment Management LLC purchased a new position in Hanesbrands in the 2nd quarter worth approximately $51,000. Whittier Trust Co. acquired a new position in shares of Hanesbrands during the 3rd quarter worth approximately $51,000. Finally, Drucker Wealth 3.0 LLC purchased a new stake in shares of Hanesbrands in the second quarter valued at approximately $57,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Performance

NYSE HBI opened at $8.23 on Monday. The stock has a market cap of $2.90 billion, a PE ratio of -12.47 and a beta of 1.64. Hanesbrands Inc. has a twelve month low of $3.88 and a twelve month high of $9.10. The stock has a fifty day simple moving average of $8.06 and a 200-day simple moving average of $6.75. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $937.10 million during the quarter, compared to analysts’ expectations of $936.47 million. During the same period last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on HBI. Barclays boosted their price objective on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hanesbrands presently has an average rating of “Hold” and an average target price of $6.90.

Hanesbrands Company 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.