Russell Investments Group Ltd. grew its stake in shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) by 59.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 766,560 shares of the textile maker’s stock after purchasing an additional 285,626 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Hanesbrands worth $11,415,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Shapiro Capital Management LLC increased its position in shares of Hanesbrands by 2.4% during the 4th quarter. Shapiro Capital Management LLC now owns 13,979,743 shares of the textile maker’s stock worth $233,741,000 after purchasing an additional 325,025 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Hanesbrands by 24.6% during the 4th quarter. Cooke & Bieler LP now owns 10,989,762 shares of the textile maker’s stock worth $183,749,000 after acquiring an additional 2,173,253 shares during the last quarter. abrdn plc increased its holdings in shares of Hanesbrands by 3.9% during the 1st quarter. abrdn plc now owns 2,684,235 shares of the textile maker’s stock worth $41,123,000 after acquiring an additional 101,668 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Hanesbrands by 139.0% during the 4th quarter. Millennium Management LLC now owns 1,963,553 shares of the textile maker’s stock worth $32,831,000 after acquiring an additional 1,141,954 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Hanesbrands by 155.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,849,677 shares of the textile maker’s stock worth $30,927,000 after acquiring an additional 1,124,177 shares during the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.
Hanesbrands Trading Up 0.3 %
Shares of Hanesbrands stock opened at $11.20 on Friday. The firm has a market capitalization of $3.91 billion, a PE ratio of 8.55 and a beta of 1.46. The company has a current ratio of 1.60, a quick ratio of 0.72 and a debt-to-equity ratio of 4.27. The firm’s 50 day moving average is $10.87 and its 200 day moving average is $13.26. Hanesbrands Inc. has a 1 year low of $9.58 and a 1 year high of $20.74.
Hanesbrands (NYSE:HBI – Get Rating) last posted its earnings results on Thursday, May 5th. The textile maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Hanesbrands Inc. will post 1.57 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
HBI has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Hanesbrands from $11.00 to $10.00 in a report on Wednesday, July 20th. B. Riley set a $18.00 target price on Hanesbrands in a report on Tuesday, July 19th. Cowen decreased their price objective on Hanesbrands to $11.00 in a report on Thursday, June 9th. Wells Fargo & Company decreased their price objective on Hanesbrands from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Finally, Evercore ISI downgraded Hanesbrands from an “outperform” rating to an “in-line” rating and cut their target price for the company from $18.00 to $12.00 in a research report on Wednesday, July 13th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.10.
Hanesbrands Company Profile
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men’s underwear, women’s panties, children’s underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
Receive News & Ratings for Hanesbrands Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Hanesbrands and related companies with MarketBeat.com’s FREE daily email newsletter.