Los Angeles Capital Management LLC Takes Position in Hanesbrands Inc. (NYSE:HBI)

Los Angeles Capital Management LLC acquired a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 11,857 shares of the textile maker’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Hanesbrands by 6.4% in the fourth quarter. International Assets Investment Management LLC now owns 110,030 shares of the textile maker’s stock valued at $491,000 after purchasing an additional 6,600 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Hanesbrands by 13.9% in the 4th quarter. Victory Capital Management Inc. now owns 70,684 shares of the textile maker’s stock valued at $315,000 after buying an additional 8,605 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Hanesbrands by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,040,749 shares of the textile maker’s stock worth $18,022,000 after buying an additional 174,055 shares during the period. Dimensional Fund Advisors LP grew 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 acquiring an additional 632,865 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in Hanesbrands in the 4th quarter valued at approximately $100,000. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Up 0.4 %

Shares of NYSE:HBI opened at $6.79 on Tuesday. Hanesbrands Inc. has a 1 year low of $3.54 and a 1 year high of $6.93. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The business’s 50-day moving average is $5.91 and its 200-day moving average is $5.34. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -113.17 and a beta of 1.57.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. Equities research analysts predict that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HBI shares. Stifel Nicolaus boosted their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays upped their price target on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. UBS Group raised their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a report on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average price target of $5.80.

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.