Intech Investment Management LLC Boosts Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Intech Investment Management LLC boosted its holdings in Hanesbrands Inc. (NYSE:HBI - Free Report) by 628.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,766 shares of the textile maker's stock after purchasing an additional 64,499 shares during the quarter. Intech Investment Management LLC's holdings in Hanesbrands were worth $550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loews Corp boosted its stake in Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker's stock worth $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Cooke & Bieler LP increased its position in Hanesbrands by 2.1% in the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker's stock valued at $80,506,000 after buying an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Hanesbrands by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker's stock worth $32,836,000 after buying an additional 1,024,308 shares during the period. Brandes Investment Partners LP raised its stake in Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker's stock worth $23,761,000 after buying an additional 183,069 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Hanesbrands by 2.2% during the 2nd 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 in the last quarter. 80.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HBI has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Stifel Nicolaus increased their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a "hold" rating in a research note on Monday, August 12th. Finally, UBS Group raised Hanesbrands from a "neutral" rating to a "buy" rating and lifted their target price for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Hanesbrands has an average rating of "Hold" and an average price target of $6.90.

Hanesbrands Stock Performance

Shares of Hanesbrands stock traded up $0.22 during mid-day trading on Monday, hitting $8.92. 4,865,112 shares of the stock were exchanged, compared to its average volume of 7,713,528. Hanesbrands Inc. has a 12 month low of $3.70 and a 12 month high of $9.10. The company has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $6.27. The company has a market capitalization of $3.14 billion, a P/E ratio of -13.38 and a beta of 1.58. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49.

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

About Hanesbrands

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.