Zurcher Kantonalbank Zurich Cantonalbank Buys 9,824 Shares of Hanesbrands Inc. (NYSE:HBI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,015 shares of the textile maker’s stock after purchasing an additional 9,824 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hanesbrands were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in Hanesbrands by 1.1% in the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after acquiring an additional 89,367 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Hanesbrands during the fourth quarter worth about $62,199,000. Allianz Asset Management GmbH boosted its holdings in shares of Hanesbrands by 3.7% in the 4th quarter. Allianz Asset Management GmbH now owns 5,283,917 shares of the textile maker’s stock worth $43,011,000 after purchasing an additional 189,397 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hanesbrands by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock valued at $32,212,000 after purchasing an additional 11,074 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hanesbrands by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,559,231 shares of the textile maker’s stock valued at $20,832,000 after buying an additional 15,727 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Insider Activity at Hanesbrands

In related news, Director Robert F. Moran bought 74,850 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now owns 216,373 shares in the company, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HBI shares. Stifel Nicolaus reiterated a “hold” rating and set a $7.00 price target (down from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.10.

Hanesbrands Price Performance

Shares of Hanesbrands stock opened at $6.02 on Friday. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. Hanesbrands Inc. has a one year low of $4.40 and a one year high of $9.10. The business’s 50 day simple moving average is $7.04 and its two-hundred day simple moving average is $7.44. The stock has a market capitalization of $2.12 billion, a P/E ratio of -6.54 and a beta of 1.75.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current 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.