Farmers & Merchants Investments Inc. Sells 46,845 Shares of Hanesbrands Inc. (NYSE:HBI)

Farmers & Merchants Investments Inc. reduced its position in shares of Hanesbrands Inc. (NYSE:HBI) by 25.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,226 shares of the textile maker’s stock after selling 46,845 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Hanesbrands were worth $1,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares during the last quarter. Tradewinds Capital Management LLC bought a new position in Hanesbrands in the 1st quarter valued at $35,000. Hollencrest Capital Management acquired a new position in Hanesbrands in the first quarter worth $41,000. Whittier Trust Co. bought a new stake in shares of Hanesbrands during the third quarter worth $51,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Hanesbrands in the second quarter valued at $39,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Stock Performance

HBI stock opened at $7.26 on Wednesday. Hanesbrands Inc. has a 1-year low of $3.58 and a 1-year high of $7.57. The business’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $5.71. The firm has a market cap of $2.55 billion, a PE ratio of -121.33 and a beta of 1.58. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, research analysts forecast that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HBI shares. Stifel Nicolaus raised their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. UBS Group lifted their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Finally, Barclays increased their target price on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and an average target price of $5.80.

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.