Assetmark Inc. Grows Stock Position in Hanesbrands Inc. (NYSE:HBI)

Assetmark Inc. increased its stake in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 4,653.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,328 shares of the textile maker's stock after purchasing an additional 139,334 shares during the quarter. Assetmark Inc.'s holdings in Hanesbrands were worth $1,159,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HBI. Geode Capital Management LLC grew its stake in shares of Hanesbrands by 1.1% during the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker's stock worth $58,183,000 after purchasing an additional 89,367 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Hanesbrands during the 4th quarter worth about $62,199,000. Allianz Asset Management GmbH boosted its position in shares of Hanesbrands by 3.7% during the 4th quarter. Allianz Asset Management GmbH now owns 5,283,917 shares of the textile maker's stock worth $43,011,000 after acquiring an additional 189,397 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hanesbrands by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker's stock valued at $32,212,000 after acquiring an additional 11,074 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Hanesbrands by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,559,231 shares of the textile maker's stock worth $20,832,000 after acquiring an additional 15,727 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company's stock.

Analyst Ratings Changes

HBI has been the subject of a number of research analyst reports. UBS Group raised Hanesbrands from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Stifel Nicolaus restated a "hold" rating and issued a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Hanesbrands currently has an average rating of "Hold" and an average target price of $7.10.

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Insider Buying and Selling

In other Hanesbrands news, Director Robert F. Moran bought 74,850 shares of Hanesbrands stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $6.01 per share, with a total value of $449,848.50. Following the completion of the acquisition, the director now owns 216,373 shares of the company's stock, valued at approximately $1,300,401.73. This represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Hanesbrands Stock Down 1.5 %

Shares of NYSE HBI opened at $5.77 on Wednesday. The business has a 50-day moving average price of $7.41 and a 200 day moving average price of $7.48. The stock has a market cap of $2.04 billion, a PE ratio of -6.27 and a beta of 1.75. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a 52-week low of $4.40 and a 52-week high of $9.10.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $888.47 million during the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. Equities research analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Hanesbrands 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.

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