Mission Wealth Management LP Sells 7,332 Shares of Hanesbrands Inc. (NYSE:HBI)

Mission Wealth Management LP reduced its position in Hanesbrands Inc. (NYSE:HBI) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,245 shares of the textile maker’s stock after selling 7,332 shares during the quarter. Mission Wealth Management LP’s holdings in Hanesbrands were worth $529,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HBI. Concord Wealth Partners boosted its stake in Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after acquiring an additional 3,618 shares in the last quarter. Tradewinds Capital Management LLC bought a new position in Hanesbrands during the first quarter worth $35,000. Future Financial Wealth Managment LLC bought a new position in Hanesbrands during the first quarter worth $44,000. Northwest Investment Counselors LLC bought a new position in Hanesbrands during the first quarter worth $51,000. Finally, Alhambra Investment Management LLC bought a new position in Hanesbrands during the fourth quarter worth $46,000. 80.31% of the stock is owned by institutional investors.

Hanesbrands Stock Down 0.4 %

Shares of HBI stock traded down $0.02 on Friday, hitting $4.76. The stock had a trading volume of 5,968,971 shares, compared to its average volume of 5,756,967. The business has a 50 day moving average of $4.90 and a 200 day moving average of $4.81. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -79.33 and a beta of 1.59. The company has a debt-to-equity ratio of 9.57, a current ratio of 1.59 and a quick ratio of 0.62. Hanesbrands Inc. has a 12-month low of $3.54 and a 12-month high of $5.86.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, May 9th. The textile maker reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share. As a group, analysts expect that Hanesbrands Inc. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on HBI. Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of Hanesbrands in a report on Thursday, June 6th. Barclays upped their price objective on shares of Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Finally, Citigroup upped their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average target price of $5.00.

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.