Verition Fund Management LLC bought a new stake in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 986,207 shares of the textile maker's stock, valued at approximately $7,249,000. Verition Fund Management LLC owned 0.28% of Hanesbrands at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Loews Corp grew its stake in Hanesbrands by 108.7% in the 2nd 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 grew its stake in Hanesbrands by 2.1% in the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker's stock worth $80,506,000 after purchasing an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker's stock worth $32,836,000 after purchasing an additional 1,024,308 shares in the last quarter. Brandes Investment Partners LP increased its holdings 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 purchasing an additional 183,069 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Hanesbrands by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker's stock valued at $32,212,000 after purchasing an additional 11,074 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors.
Hanesbrands Stock Up 2.5 %
NYSE:HBI traded up $0.22 during mid-day trading on Monday, hitting $8.92. 4,865,112 shares of the company's stock traded hands, compared to its average volume of 7,713,528. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The company has a market capitalization of $3.14 billion, a P/E ratio of -13.51 and a beta of 1.58. The company has a fifty day moving average of $7.60 and a 200 day moving average of $6.29. Hanesbrands Inc. has a twelve month low of $3.70 and a twelve month high of $9.10.
Hanesbrands (NYSE:HBI - Get Free Report) last released its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The company had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the previous year, the firm earned $0.10 EPS. Hanesbrands's revenue was down 2.5% compared to the same quarter last year. On average, analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. UBS Group upgraded Hanesbrands from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Stifel Nicolaus boosted their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a "hold" rating in a research report on Monday, August 12th. Finally, Barclays lifted their target price on Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.90.
Get Our Latest Stock Analysis on Hanesbrands
About Hanesbrands
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Free Report)
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.
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