Handelsbanken Fonder AB Purchases 33,600 Shares of Hanesbrands Inc. (NYSE:HBI)

Handelsbanken Fonder AB increased its position in Hanesbrands Inc. (NYSE:HBI) by 44.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,353 shares of the textile maker’s stock after acquiring an additional 33,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Hanesbrands were worth $796,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HBI. Sierra Summit Advisors LLC bought a new position in shares of Hanesbrands in the fourth quarter valued at approximately $215,000. Beacon Financial Group bought a new stake in Hanesbrands during the fourth quarter valued at approximately $174,000. Goldman Sachs Group Inc. lifted its position in Hanesbrands by 17.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,806,697 shares of the textile maker’s stock valued at $16,978,000 after purchasing an additional 561,039 shares during the last quarter. Vanguard Group Inc. lifted its position in Hanesbrands by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 38,903,759 shares of the textile maker’s stock valued at $173,511,000 after purchasing an additional 597,523 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Hanesbrands during the fourth quarter valued at approximately $439,000. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Trading Down 1.2 %

HBI stock opened at $7.24 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of -8.52 and a beta of 1.58. Hanesbrands Inc. has a one year low of $3.58 and a one year high of $7.44. The company’s 50 day moving average price is $6.54 and its two-hundred day moving average price is $5.56. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. As a group, analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, UBS Group lifted their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.80.

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.