Lumature Wealth Partners LLC Purchases 18,000 Shares of Hanesbrands Inc. (NYSE:HBI)

Posted by on Jun 13th, 2023

Lumature Wealth Partners LLC raised its stake in Hanesbrands Inc. (NYSE:HBI – Get Rating) by 36,000.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,050 shares of the textile maker’s stock after purchasing an additional 18,000 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Hanesbrands were worth $115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HBI. JPMorgan Chase & Co. raised its stake in shares of Hanesbrands by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 683,233 shares of the textile maker’s stock worth $10,174,000 after purchasing an additional 26,548 shares during the last quarter. US Bancorp DE raised its stake in shares of Hanesbrands by 62.8% in the first quarter. US Bancorp DE now owns 41,121 shares of the textile maker’s stock worth $613,000 after purchasing an additional 15,870 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Hanesbrands in the first quarter worth approximately $160,000. Bank of Montreal Can raised its stake in shares of Hanesbrands by 22.3% in the first quarter. Bank of Montreal Can now owns 361,860 shares of the textile maker’s stock worth $5,608,000 after purchasing an additional 65,863 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Hanesbrands by 38.9% in the first quarter. MetLife Investment Management LLC now owns 235,075 shares of the textile maker’s stock worth $3,500,000 after purchasing an additional 65,846 shares during the last quarter. 81.87% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Performance

NYSE:HBI opened at $4.69 on Tuesday. The company has a debt-to-equity ratio of 10.57, a current ratio of 1.72 and a quick ratio of 0.60. The business has a fifty day simple moving average of $4.56 and a two-hundred day simple moving average of $5.68. Hanesbrands Inc. has a 1 year low of $3.85 and a 1 year high of $11.77. The company has a market capitalization of $1.64 billion, a P/E ratio of -5.86 and a beta of 1.59.

Hanesbrands (NYSE:HBI – Get Rating) last released its earnings results on Wednesday, May 3rd. The textile maker reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Hanesbrands had a positive return on equity of 38.23% and a negative net margin of 4.64%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts expect that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HBI has been the subject of a number of research analyst reports. UBS Group decreased their price target on Hanesbrands from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 29th. Stifel Nicolaus decreased their price target on Hanesbrands from $7.00 to $6.00 in a research report on Thursday, May 4th. StockNews.com initiated coverage on Hanesbrands in a research report on Thursday, May 18th. They set a “sell” rating for the company. Barclays decreased their price target on Hanesbrands from $6.00 to $5.00 in a research report on Thursday, May 4th. Finally, SpectralCast reaffirmed a “maintains” rating on shares of Hanesbrands in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hanesbrands has an average rating of “Hold” and an average price target of $8.33.

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.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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