KLCM Advisors Inc. Lowers Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

KLCM Advisors Inc. trimmed its position in shares of Hanesbrands Inc. (NYSE:HBI) by 36.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,470,474 shares of the textile maker’s stock after selling 845,465 shares during the quarter. KLCM Advisors Inc. owned 0.42% of Hanesbrands worth $6,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HBI. JPMorgan Chase & Co. raised its position in Hanesbrands by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 683,233 shares of the textile maker’s stock valued at $10,174,000 after purchasing an additional 26,548 shares in the last quarter. US Bancorp DE raised its position in Hanesbrands by 62.8% in the 1st quarter. US Bancorp DE now owns 41,121 shares of the textile maker’s stock valued at $613,000 after purchasing an additional 15,870 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Hanesbrands in the 1st quarter valued at about $160,000. Bank of Montreal Can raised its position in Hanesbrands by 22.3% in the 1st quarter. Bank of Montreal Can now owns 361,860 shares of the textile maker’s stock valued at $5,608,000 after purchasing an additional 65,863 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in Hanesbrands by 38.9% in the 1st quarter. MetLife Investment Management LLC now owns 235,075 shares of the textile maker’s stock valued at $3,500,000 after purchasing an additional 65,846 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HBI shares. Citigroup increased their price target on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Wedbush raised their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.00.

Hanesbrands Stock Performance

Shares of NYSE HBI traded down $0.01 during midday trading on Wednesday, hitting $4.68. 12,528,846 shares of the company’s stock were exchanged, compared to its average volume of 7,315,576. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. Hanesbrands Inc. has a twelve month low of $3.54 and a twelve month high of $5.86. The firm’s fifty day simple moving average is $5.10 and its 200-day simple moving average is $4.48.

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