Concord Wealth Partners bought a new position in shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,427 shares of the textile maker’s stock, valued at approximately $60,000.
Several other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Hanesbrands by 26.7% during the 4th quarter. Signaturefd LLC now owns 85,972 shares of the textile maker’s stock worth $547,000 after purchasing an additional 18,137 shares in the last quarter. International Assets Investment Management LLC grew its stake in Hanesbrands by 39.0% in the 4th quarter. International Assets Investment Management LLC now owns 74,545 shares of the textile maker’s stock valued at $474,000 after acquiring an additional 20,905 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in Hanesbrands in the 4th quarter valued at about $294,000. Latitude Advisors LLC grew its stake in Hanesbrands by 42.0% in the 4th quarter. Latitude Advisors LLC now owns 15,262 shares of the textile maker’s stock valued at $97,000 after acquiring an additional 4,512 shares during the last quarter. Finally, Lapides Asset Management LLC grew its stake in Hanesbrands by 12.7% in the 4th quarter. Lapides Asset Management LLC now owns 856,800 shares of the textile maker’s stock valued at $5,449,000 after acquiring an additional 96,700 shares during the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on HBI shares. Citigroup lowered their price objective on shares of Hanesbrands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. UBS Group lowered their price objective on shares of Hanesbrands from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 29th. Credit Suisse Group lowered their price objective on shares of Hanesbrands from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. TheStreet cut shares of Hanesbrands from a “c” rating to a “d+” rating in a research note on Thursday, February 2nd. Finally, Barclays raised their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Friday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $9.30.
Hanesbrands Trading Down 5.0 %
Hanesbrands (NYSE:HBI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The textile maker reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. Hanesbrands had a positive return on equity of 53.41% and a negative net margin of 2.04%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. As a group, equities research analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.
Hanesbrands Company Profile
Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.
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