First Trust Advisors LP Acquires New Position in Hanesbrands Inc. (NYSE:HBI)

First Trust Advisors LP bought a new position in shares of Hanesbrands Inc. (NYSE:HBI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,002 shares of the textile maker’s stock, valued at approximately $122,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Hanesbrands by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 1,895 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Hanesbrands in the fourth quarter valued at approximately $62,199,000. Hanseatic Management Services Inc. acquired a new position in Hanesbrands during the fourth quarter worth approximately $691,000. Ballentine Partners LLC purchased a new position in Hanesbrands during the fourth quarter worth approximately $92,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Hanesbrands by 6.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 45,876 shares of the textile maker’s stock valued at $373,000 after purchasing an additional 2,952 shares during the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBI has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Barclays set a $5.00 price target on Hanesbrands and gave the company a “cautious” rating in a research report on Monday, April 28th. UBS Group raised their price objective on Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their target price on Hanesbrands from $5.00 to $3.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.20.

Hanesbrands Stock Performance

Shares of HBI opened at $5.09 on Monday. Hanesbrands Inc. has a 12 month low of $4.02 and a 12 month high of $9.10. The stock’s 50-day moving average is $5.17 and its two-hundred day moving average is $6.91. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The stock has a market cap of $1.80 billion, a PE ratio of -5.53 and a beta of 1.50.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $760.15 million for the quarter, compared to the consensus estimate of $757.42 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. Equities analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In other Hanesbrands news, Director Robert F. Moran acquired 74,850 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the purchase, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This trade represents a 52.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

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.