Alaska Permanent Fund Corp Lowers Holdings in Hanesbrands Inc. (NYSE:HBI)

Alaska Permanent Fund Corp reduced its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 420,500 shares of the textile maker’s stock after selling 84,100 shares during the quarter. Alaska Permanent Fund Corp owned 0.12% of Hanesbrands worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in HBI. New South Capital Management Inc. grew its holdings in Hanesbrands by 1.2% in the 3rd quarter. New South Capital Management Inc. now owns 8,171,107 shares of the textile maker’s stock valued at $32,358,000 after buying an additional 96,636 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Hanesbrands by 4.0% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,437,284 shares of the textile maker’s stock worth $17,572,000 after buying an additional 169,552 shares during the last quarter. Brandes Investment Partners LP increased its stake in Hanesbrands by 21.7% during the third quarter. Brandes Investment Partners LP now owns 3,874,803 shares of the textile maker’s stock valued at $15,344,000 after purchasing an additional 691,149 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Hanesbrands by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,866,694 shares of the textile maker’s stock valued at $15,312,000 after buying an additional 209,214 shares during the last quarter. Finally, KLCM Advisors Inc. raised its position in shares of Hanesbrands by 7.2% during the 3rd quarter. KLCM Advisors Inc. now owns 2,315,939 shares of the textile maker’s stock worth $9,171,000 after purchasing an additional 155,740 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of HBI opened at $4.50 on Friday. The company has a debt-to-equity ratio of 7.72, a quick ratio of 0.65 and a current ratio of 1.64. Hanesbrands Inc. has a 52-week low of $3.54 and a 52-week high of $5.86. The stock has a 50 day simple moving average of $5.12 and a 200 day simple moving average of $4.51. The firm has a market capitalization of $1.58 billion, a PE ratio of -89.28 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 15th. The textile maker reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. Hanesbrands’s quarterly revenue was down 12.0% compared to the same quarter last year. Sell-side analysts predict that Hanesbrands Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on HBI. Wedbush boosted their price target on shares of Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Citigroup boosted their target price on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands presently has a consensus rating of “Hold” and an average price target of $5.00.

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.