Geode Capital Management LLC Grows Stock Position in Hanesbrands Inc. (NYSE:HBI)

Geode Capital Management LLC increased its position in Hanesbrands Inc. (NYSE:HBI - Free Report) by 1.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,914,447 shares of the textile maker's stock after acquiring an additional 89,367 shares during the quarter. Geode Capital Management LLC owned about 2.25% of Hanesbrands worth $58,183,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HBI. Louisiana State Employees Retirement System lifted its position in Hanesbrands by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker's stock worth $872,000 after buying an additional 3,500 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hanesbrands by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 2,810,295 shares of the textile maker's stock valued at $13,855,000 after purchasing an additional 61,041 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Hanesbrands by 22.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 45,592 shares of the textile maker's stock worth $225,000 after acquiring an additional 8,223 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hanesbrands by 24.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,191 shares of the textile maker's stock worth $450,000 after buying an additional 17,689 shares during the last quarter. Finally, Loews Corp lifted its position in Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker's stock valued at $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company's stock.

Wall Street Analyst Weigh In

HBI has been the subject of a number of research reports. Barclays boosted their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. UBS Group raised Hanesbrands from a "neutral" rating to a "buy" rating and raised their price target for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.90.

Hanesbrands Trading Down 0.1 %

Shares of NYSE HBI traded down $0.01 during trading hours on Monday, reaching $8.22. The stock had a trading volume of 4,205,057 shares, compared to its average volume of 7,635,391. Hanesbrands Inc. has a 52-week low of $3.88 and a 52-week high of $9.10. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -12.45 and a beta of 1.64. The business's fifty day moving average price is $7.96 and its two-hundred day moving average price is $6.64. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million for the quarter, compared to analysts' expectations of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Analysts expect that Hanesbrands Inc. will post 0.39 EPS for the current fiscal 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.