Tidal Investments LLC Takes Position in Hanesbrands Inc. (NYSE:HBI)

Tidal Investments LLC bought a new position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 138,865 shares of the textile maker's stock, valued at approximately $1,021,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its stake 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 valued at $39,000 after acquiring an additional 1,594 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in Hanesbrands by 1.3% in the second quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker's stock worth $778,000 after purchasing an additional 2,072 shares during the period. Arizona State Retirement System boosted its holdings in shares of Hanesbrands by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker's stock valued at $485,000 after buying an additional 2,221 shares during the period. Evergreen Capital Management LLC lifted its holdings in Hanesbrands by 6.6% in the second quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker's stock worth $185,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Hanesbrands by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker's stock worth $872,000 after acquiring an additional 3,500 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Price Performance

NYSE:HBI traded up $0.13 during trading hours on Friday, reaching $8.23. 21,350,574 shares of the company's stock were exchanged, compared to its average volume of 7,648,823. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The company has a market capitalization of $2.90 billion, a P/E ratio of -12.47 and a beta of 1.64. Hanesbrands Inc. has a 12 month low of $3.88 and a 12 month high of $9.10. The business's 50-day simple moving average is $7.94 and its two-hundred day simple moving average is $6.60.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (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 company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same period in the previous year, the firm earned $0.10 earnings per share. Hanesbrands's revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts expect that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HBI has been the subject of several analyst reports. Barclays boosted their price target 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. 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 note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.