Intech Investment Management LLC Buys New Stake in Hanesbrands Inc. (NYSE:HBI)

Intech Investment Management LLC acquired a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,267 shares of the textile maker’s stock, valued at approximately $51,000.

A number of other hedge funds have also made changes to their positions in HBI. Loews Corp raised its stake in Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Gate City Capital Management LLC acquired a new stake in shares of Hanesbrands during the fourth quarter worth about $9,812,000. Morningstar Investment Services LLC lifted its holdings in shares of Hanesbrands by 93.1% in the 4th quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock valued at $19,051,000 after purchasing an additional 2,069,204 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after purchasing an additional 1,362,140 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Hanesbrands by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after buying an additional 1,024,308 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Up 1.8 %

NYSE HBI opened at $7.28 on Monday. Hanesbrands Inc. has a 52-week low of $3.55 and a 52-week high of $7.31. The firm has a 50-day moving average price of $6.24 and a 200 day moving average price of $5.43. The stock has a market capitalization of $2.56 billion, a P/E ratio of -121.33 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate 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 for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. Equities research analysts expect that Hanesbrands Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

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