Hennessy Advisors Inc. Makes New $62.20 Million Investment in Hanesbrands Inc. (NYSE:HBI)

Hennessy Advisors Inc. acquired a new stake in Hanesbrands Inc. (NYSE:HBI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,641,100 shares of the textile maker's stock, valued at approximately $62,199,000. Hanesbrands comprises about 1.9% of Hennessy Advisors Inc.'s holdings, making the stock its 8th largest position. Hennessy Advisors Inc. owned approximately 2.17% of Hanesbrands as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HBI. Blue Trust Inc. boosted its stake in shares of Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock valued at $39,000 after buying an additional 1,594 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Hanesbrands by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock worth $54,000 after purchasing an additional 1,895 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Hanesbrands by 6.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker's stock worth $185,000 after purchasing an additional 2,316 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Hanesbrands by 8.2% in the 2nd quarter. Moors & Cabot Inc. now owns 46,383 shares of the textile maker's stock valued at $229,000 after purchasing an additional 3,500 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Hanesbrands by 20.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 26,728 shares of the textile maker's stock valued at $132,000 after purchasing an additional 4,623 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group upgraded shares of Hanesbrands from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays upped their price target on Hanesbrands from $6.00 to $7.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $6.90.

Hanesbrands Price Performance

HBI traded down $0.02 during midday trading on Friday, reaching $8.29. 4,432,707 shares of the company's stock were exchanged, compared to its average volume of 4,587,167. The business's 50-day moving average price is $8.37 and its 200 day moving average price is $7.09. The stock has a market capitalization of $2.92 billion, a PE ratio of -12.56 and a beta of 1.64. Hanesbrands Inc. has a 1-year low of $3.88 and a 1-year high of $9.10. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, equities analysts anticipate that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Hanesbrands Company 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.