Red Door Wealth Management LLC Invests $131,000 in Hanesbrands Inc. (NYSE:HBI)

Red Door Wealth Management LLC acquired a new stake in Hanesbrands Inc. (NYSE:HBI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,654 shares of the textile maker’s stock, valued at approximately $131,000.

Several other large investors have also bought and sold shares of HBI. Evergreen Capital Management LLC increased its stake in shares of Hanesbrands by 11.2% in the third quarter. Evergreen Capital Management LLC now owns 25,070 shares of the textile maker’s stock valued at $99,000 after buying an additional 2,533 shares during the period. Cerity Partners LLC raised its holdings in Hanesbrands by 6.7% during the 4th quarter. Cerity Partners LLC now owns 41,310 shares of the textile maker’s stock worth $184,000 after purchasing an additional 2,605 shares during the last quarter. Platinum Investment Management Ltd. lifted its position in shares of Hanesbrands by 12.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 24,779 shares of the textile maker’s stock worth $111,000 after purchasing an additional 2,812 shares during the period. Independent Advisor Alliance boosted its stake in shares of Hanesbrands by 33.4% in the 4th quarter. Independent Advisor Alliance now owns 13,488 shares of the textile maker’s stock valued at $60,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Hanesbrands by 31.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 16,146 shares of the textile maker’s stock worth $72,000 after buying an additional 3,897 shares during the period. 80.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBI. Citigroup boosted their price objective on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Wedbush restated a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Finally, Barclays upped their price target on Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hanesbrands presently has a consensus rating of “Hold” and an average price target of $5.00.

Hanesbrands Price Performance

Hanesbrands stock opened at $4.93 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.59 and a debt-to-equity ratio of 9.57. The firm’s fifty day moving average price is $4.88 and its two-hundred day moving average price is $4.79. Hanesbrands Inc. has a 1-year low of $3.54 and a 1-year high of $5.86.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The company’s quarterly revenue was down 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. Research analysts expect that Hanesbrands Inc. will post 0.46 EPS for the current 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.