Pacific Ridge Capital Partners LLC Sells 47,859 Shares of Hanesbrands Inc. (NYSE:HBI)

Pacific Ridge Capital Partners LLC trimmed its stake in Hanesbrands Inc. (NYSE:HBI) by 20.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,067 shares of the textile maker’s stock after selling 47,859 shares during the quarter. Pacific Ridge Capital Partners LLC owned approximately 0.05% of Hanesbrands worth $1,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Hanesbrands by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 38,903,759 shares of the textile maker’s stock worth $173,511,000 after acquiring an additional 597,523 shares during the period. Loews Corp lifted its holdings in Hanesbrands by 54.2% during the 4th quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock worth $73,590,000 after purchasing an additional 5,800,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Hanesbrands by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,749,433 shares of the textile maker’s stock worth $25,642,000 after purchasing an additional 632,865 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in Hanesbrands by 10.9% during the 4th quarter. Brandes Investment Partners LP now owns 4,298,017 shares of the textile maker’s stock worth $19,169,000 after purchasing an additional 423,214 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its holdings in Hanesbrands by 93.1% during the 4th quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock worth $19,051,000 after purchasing an additional 2,069,204 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Price Performance

NYSE HBI traded down $0.02 during midday trading on Friday, hitting $5.40. The company had a trading volume of 9,836,030 shares, compared to its average volume of 7,893,682. The company has a market capitalization of $1.90 billion, a PE ratio of -90.00 and a beta of 1.59. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57. The firm has a 50-day moving average price of $5.01 and a 200-day moving average price of $4.87. Hanesbrands Inc. has a twelve month low of $3.54 and a twelve month high of $5.86.

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

Analysts Set New Price Targets

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