Hanesbrands Inc. (NYSE:HBI) Shares Purchased by Innovis Asset Management LLC

Innovis Asset Management LLC lifted its position in shares of Hanesbrands Inc. (NYSE:HBIFree Report) by 14.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 155,781 shares of the textile maker’s stock after purchasing an additional 19,429 shares during the period. Innovis Asset Management LLC’s holdings in Hanesbrands were worth $617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Hanesbrands by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 683,233 shares of the textile maker’s stock valued at $10,174,000 after buying an additional 26,548 shares during the last quarter. US Bancorp DE boosted its position in Hanesbrands by 62.8% in the 1st quarter. US Bancorp DE now owns 41,121 shares of the textile maker’s stock valued at $613,000 after buying an additional 15,870 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Hanesbrands during the first quarter worth about $160,000. Bank of Montreal Can lifted its position in shares of Hanesbrands by 22.3% during the first quarter. Bank of Montreal Can now owns 361,860 shares of the textile maker’s stock worth $5,608,000 after purchasing an additional 65,863 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Hanesbrands by 38.9% during the first quarter. MetLife Investment Management LLC now owns 235,075 shares of the textile maker’s stock worth $3,500,000 after purchasing an additional 65,846 shares during the last quarter. 87.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Stifel Nicolaus dropped their price objective on shares of Hanesbrands from $5.00 to $4.50 and set a “hold” rating on the stock in a research note on Thursday, December 14th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.00.

View Our Latest Report on Hanesbrands

Hanesbrands Price Performance

HBI traded up $0.03 on Friday, hitting $4.59. 4,992,592 shares of the company’s stock were exchanged, compared to its average volume of 6,459,838. Hanesbrands Inc. has a twelve month low of $3.54 and a twelve month high of $5.96. The stock has a fifty day moving average of $4.22 and a two-hundred day moving average of $4.41. The company has a debt-to-equity ratio of 12.08, a current ratio of 1.57 and a quick ratio of 0.65.

Hanesbrands (NYSE:HBIGet Free Report) last released its quarterly earnings data on Thursday, November 9th. The textile maker reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Hanesbrands had a positive return on equity of 9.62% and a negative net margin of 8.84%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $0.29 EPS. Hanesbrands’s revenue was down 9.5% compared to the same quarter last year. On average, analysts expect that Hanesbrands Inc. will post 0.12 earnings per share for the current year.

Hanesbrands Profile

(Free Report)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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