Prudential Financial Inc. Sells 5,980 Shares of Hanesbrands Inc. (NYSE:HBI)

Prudential Financial Inc. lowered its position in shares of Hanesbrands Inc. (NYSE:HBI) by 1.6% during the fourth quarter, HoldingsChannel reports. The fund owned 360,852 shares of the textile maker’s stock after selling 5,980 shares during the quarter. Prudential Financial Inc.’s holdings in Hanesbrands were worth $2,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of 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 purchasing an additional 2,712 shares during the last quarter. WFA Asset Management Corp bought a new stake in Hanesbrands during the 4th quarter worth approximately $46,000. GAMMA Investing LLC increased its position in Hanesbrands by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 1,895 shares during the period. Allworth Financial LP raised its stake in shares of Hanesbrands by 459.2% during the fourth quarter. Allworth Financial LP now owns 8,220 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 6,750 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Hanesbrands during the third quarter worth $77,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Trading Up 4.2 %

NYSE:HBI opened at $5.97 on Thursday. Hanesbrands Inc. has a 52 week low of $4.40 and a 52 week high of $9.10. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. The firm’s fifty day moving average is $6.60 and its 200-day moving average is $7.41. The firm has a market cap of $2.11 billion, a P/E ratio of -6.49 and a beta of 1.75.

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

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 target price (down from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.10.

Insider Buying and Selling at Hanesbrands

In related news, Director Robert F. Moran acquired 74,850 shares of Hanesbrands stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This represents a 52.89 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

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.