Arizona State Retirement System Has $626,000 Stock Position in Hanesbrands Inc. (NYSE:HBI)

Posted by on May 18th, 2023

Arizona State Retirement System raised its stake in Hanesbrands Inc. (NYSE:HBI – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,463 shares of the textile maker’s stock after acquiring an additional 3,684 shares during the quarter. Arizona State Retirement System’s holdings in Hanesbrands were worth $626,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Cooke & Bieler LP raised its holdings in Hanesbrands by 12.4% in the 4th quarter. Cooke & Bieler LP now owns 23,252,129 shares of the textile maker’s stock valued at $147,884,000 after acquiring an additional 2,565,168 shares during the period. Duality Advisers LP raised its holdings in Hanesbrands by 93.9% in the 4th quarter. Duality Advisers LP now owns 563,363 shares of the textile maker’s stock valued at $3,583,000 after acquiring an additional 272,869 shares during the period. Altrius Capital Management Inc raised its holdings in Hanesbrands by 23.4% in the 4th quarter. Altrius Capital Management Inc now owns 471,690 shares of the textile maker’s stock valued at $3,000,000 after acquiring an additional 89,415 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Hanesbrands by 23.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 402,503 shares of the textile maker’s stock worth $2,559,000 after purchasing an additional 76,799 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Hanesbrands by 13.5% during the fourth quarter. LPL Financial LLC now owns 311,419 shares of the textile maker’s stock worth $1,981,000 after purchasing an additional 36,998 shares during the period. 81.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HBI. SpectralCast reaffirmed a “maintains” rating on shares of Hanesbrands in a report on Friday, April 28th. Citigroup lowered their target price on shares of Hanesbrands from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, February 3rd. Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $6.00 in a report on Thursday, May 4th. Credit Suisse Group decreased 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. Finally, TheStreet cut shares of Hanesbrands from a “c” rating to a “d+” rating in a research note on Thursday, February 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hanesbrands has a consensus rating of “Hold” and a consensus target price of $8.60.

Hanesbrands Price Performance

Shares of NYSE:HBI opened at $4.14 on Thursday. The firm has a market cap of $1.45 billion, a PE ratio of -5.17 and a beta of 1.58. The firm’s fifty day moving average is $4.86 and its 200-day moving average is $6.03. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.60 and a current ratio of 1.72. Hanesbrands Inc. has a 52 week low of $3.85 and a 52 week high of $12.64.

Hanesbrands (NYSE:HBI – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The textile maker reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. Hanesbrands had a negative net margin of 4.64% and a positive return on equity of 38.23%. Hanesbrands’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Sell-side analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

About Hanesbrands

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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.

See Also

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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