KLCM Advisors Inc. increased its position in shares of Hanesbrands Inc. (NYSE:HBI – Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,070,276 shares of the textile maker’s stock after acquiring an additional 164,400 shares during the period. Hanesbrands comprises 2.2% of KLCM Advisors Inc.’s holdings, making the stock its 16th largest holding. KLCM Advisors Inc. owned approximately 0.59% of Hanesbrands worth $10,890,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Millennium Management LLC boosted its position in Hanesbrands by 991.4% in the fourth quarter. Millennium Management LLC now owns 3,896,974 shares of the textile maker’s stock valued at $24,785,000 after buying an additional 3,539,911 shares in the last quarter. Cooke & Bieler LP boosted its position in Hanesbrands by 12.4% in the fourth quarter. Cooke & Bieler LP now owns 23,252,129 shares of the textile maker’s stock valued at $147,884,000 after buying an additional 2,565,168 shares in the last quarter. Brandes Investment Partners LP boosted its position in Hanesbrands by 7,516.3% in the first quarter. Brandes Investment Partners LP now owns 2,355,656 shares of the textile maker’s stock valued at $12,391,000 after buying an additional 2,324,727 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Hanesbrands by 2,900.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,354,491 shares of the textile maker’s stock valued at $14,975,000 after buying an additional 2,276,017 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Hanesbrands by 176.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,175,319 shares of the textile maker’s stock valued at $47,281,000 after buying an additional 2,025,040 shares in the last quarter. Institutional investors and hedge funds own 88.35% of the company’s stock.
Hanesbrands Stock Down 0.4 %
HBI traded down $0.02 during midday trading on Wednesday, hitting $5.13. The company had a trading volume of 5,680,680 shares, compared to its average volume of 10,212,750. Hanesbrands Inc. has a 52 week low of $3.85 and a 52 week high of $9.74. The company has a quick ratio of 0.61, a current ratio of 1.67 and a debt-to-equity ratio of 10.07. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -4.58 and a beta of 1.63. The stock’s 50 day moving average price is $4.90 and its 200 day moving average price is $4.93.
Hanesbrands (NYSE:HBI – Get Free Report) last posted its quarterly earnings results on Thursday, August 10th. The textile maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. Hanesbrands had a negative net margin of 6.61% and a positive return on equity of 22.89%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, research analysts anticipate that Hanesbrands Inc. will post 0.23 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Wedbush restated a “neutral” rating and issued a $5.50 target price on shares of Hanesbrands in a research report on Tuesday, August 8th. SpectralCast reiterated a “maintains” rating on shares of Hanesbrands in a report on Friday, April 28th. Barclays cut their price target on shares of Hanesbrands from $6.00 to $5.00 in a report on Thursday, May 4th. Stifel Nicolaus cut their price target on shares of Hanesbrands from $7.00 to $6.00 in a report on Thursday, May 4th. Finally, StockNews.com upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, Hanesbrands has an average rating of “Hold” and an average target price of $5.64.
About Hanesbrands
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 and socks, and activewear, 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 and mass retail channels.