Cutter & CO Brokerage Inc. Sells 44,575 Shares of Hanesbrands Inc. (NYSE:HBI)

Cutter & CO Brokerage Inc. lowered its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 71.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,200 shares of the textile maker’s stock after selling 44,575 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Hanesbrands were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of HBI. Harel Insurance Investments & Financial Services Ltd. bought a new position in Hanesbrands in the 3rd quarter worth $40,000. Journey Strategic Wealth LLC acquired a new stake in shares of Hanesbrands in the third quarter worth $41,000. Sherbrooke Park Advisers LLC bought a new position in Hanesbrands during the third quarter worth $42,000. AXQ Capital LP acquired a new position in Hanesbrands during the 3rd quarter valued at $43,000. Finally, Alhambra Investment Management LLC bought a new stake in Hanesbrands in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of NYSE:HBI traded down $0.06 during midday trading on Wednesday, reaching $4.84. 4,304,069 shares of the company’s stock were exchanged, compared to its average volume of 8,847,097. The firm has a market capitalization of $1.70 billion, a PE ratio of -97.38 and a beta of 1.58. The company’s 50 day simple moving average is $5.12 and its two-hundred day simple moving average is $4.51. Hanesbrands Inc. has a 12 month low of $3.54 and a 12 month high of $5.86. 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 (NYSE:HBI) last released 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). The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.36 billion. Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities research analysts expect that Hanesbrands Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HBI. Citigroup boosted 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. Wedbush upped their price target on Hanesbrands from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.