JPMorgan Chase & Co. Raises Position in Hanesbrands Inc. (NYSE:HBI)

JPMorgan Chase & Co. increased its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 484.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,143,791 shares of the textile maker's stock after buying an additional 1,776,690 shares during the period. JPMorgan Chase & Co. owned about 0.61% of Hanesbrands worth $15,757,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HBI. Blue Trust Inc. raised its position in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock worth $39,000 after acquiring an additional 1,594 shares during the last quarter. Intech Investment Management LLC bought a new position in Hanesbrands during the 2nd quarter worth approximately $51,000. Whittier Trust Co. acquired a new position in shares of Hanesbrands in the 3rd quarter worth approximately $51,000. Drucker Wealth 3.0 LLC bought a new stake in shares of Hanesbrands in the 2nd quarter valued at $57,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Hanesbrands during the second quarter worth $58,000. 80.31% of the stock is owned by institutional investors.

Hanesbrands Stock Down 0.1 %

HBI traded down $0.01 during midday trading on Friday, hitting $8.30. The company had a trading volume of 4,446,562 shares, compared to its average volume of 4,566,671. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -12.58 and a beta of 1.64. The stock's 50 day moving average price is $8.28 and its 200 day moving average price is $6.96. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. Hanesbrands Inc. has a 52 week low of $3.88 and a 52 week high of $9.10.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $936.47 million. During the same period in the previous year, the company posted $0.10 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HBI. UBS Group upgraded shares of Hanesbrands from a "neutral" rating to a "buy" rating and boosted their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays upped their target price on Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Four equities 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, Hanesbrands has an average rating of "Hold" and an average price target of $6.90.

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.