Principal Financial Group Inc. Reduces Stock Position in Hanesbrands Inc. (NYSE:HBI)

Principal Financial Group Inc. reduced its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,666,252 shares of the textile maker’s stock after selling 81,191 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Hanesbrands worth $12,247,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Hanesbrands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after acquiring an additional 1,362,140 shares during the last quarter. Loews Corp grew its stake in Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after purchasing an additional 15,206,007 shares in the last quarter. Cooke & Bieler LP increased its holdings in Hanesbrands by 2.1% in the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after buying an additional 342,056 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Hanesbrands by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after buying an additional 1,024,308 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after buying an additional 183,069 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on HBI. Stifel Nicolaus upped their price target on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays raised their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, UBS Group increased their price objective on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Hanesbrands Stock Up 4.2 %

Hanesbrands stock opened at $8.22 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of -12.45 and a beta of 1.58. The company has a 50-day simple moving average of $7.17 and a 200-day simple moving average of $5.99. Hanesbrands Inc. has a one year low of $3.58 and a one year high of $8.70. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. Hanesbrands’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. As a group, equities analysts expect that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

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.