Raymond James Financial Inc. Makes New $5.40 Million Investment in Hanesbrands Inc. (NYSE:HBI)

Raymond James Financial Inc. bought a new position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 662,796 shares of the textile maker's stock, valued at approximately $5,395,000. Raymond James Financial Inc. owned about 0.19% of Hanesbrands at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HBI. Hennessy Advisors Inc. acquired a new position in Hanesbrands during the 4th quarter worth $62,199,000. JPMorgan Chase & Co. lifted its position in Hanesbrands by 484.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker's stock valued at $15,757,000 after acquiring an additional 1,776,690 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Hanesbrands in the 3rd quarter valued at approximately $7,249,000. BNP Paribas Financial Markets boosted its stake in shares of Hanesbrands by 388.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker's stock worth $5,456,000 after buying an additional 590,493 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Hanesbrands during the fourth quarter worth $2,066,000. 80.31% of the stock is currently owned by institutional investors.

Insider Activity

In other Hanesbrands news, Director Robert F. Moran bought 74,850 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the transaction, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus restated a "hold" rating and issued a $7.00 price target (down from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. UBS Group raised shares of Hanesbrands from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Hanesbrands has an average rating of "Hold" and an average target price of $7.10.

Hanesbrands Stock Performance

Shares of Hanesbrands stock traded down $0.11 during mid-day trading on Tuesday, hitting $5.93. 4,718,188 shares of the stock were exchanged, compared to its average volume of 6,861,290. The company has a 50-day simple moving average of $6.95 and a 200 day simple moving average of $7.45. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. Hanesbrands Inc. has a 12 month low of $4.40 and a 12 month high of $9.10. The company has a market capitalization of $2.09 billion, a P/E ratio of -6.45 and a beta of 1.75.

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