Marshall Wace LLP Acquires New Shares in Hanesbrands Inc. (NYSE:HBI)

Marshall Wace LLP bought a new stake in shares of Hanesbrands Inc. (NYSE:HBI) in the second quarter, HoldingsChannel.com reports. The firm bought 14,200 shares of the textile maker’s stock, valued at approximately $70,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evergreen Capital Management LLC boosted its holdings in shares of Hanesbrands by 6.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock valued at $185,000 after purchasing an additional 2,316 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Hanesbrands by 7.8% during the second quarter. Public Sector Pension Investment Board now owns 773,539 shares of the textile maker’s stock worth $3,814,000 after acquiring an additional 56,065 shares during the period. Thrivent Financial for Lutherans grew its holdings in Hanesbrands by 101.3% in the second quarter. Thrivent Financial for Lutherans now owns 612,514 shares of the textile maker’s stock valued at $3,020,000 after purchasing an additional 308,200 shares during the period. Sei Investments Co. lifted its position in Hanesbrands by 366.7% during the second quarter. Sei Investments Co. now owns 341,232 shares of the textile maker’s stock worth $1,682,000 after buying an additional 268,110 shares in the last quarter. Finally, Bridges Investment Management Inc. purchased a new position in Hanesbrands during the second quarter worth approximately $348,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Hanesbrands Stock Down 1.2 %

Shares of Hanesbrands stock opened at $7.24 on Monday. The firm has a market cap of $2.55 billion, a P/E ratio of -120.67 and a beta of 1.58. The business has a 50-day moving average price of $6.54 and a 200 day moving average price of $5.56. Hanesbrands Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $7.44. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $995.40 million during the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, sell-side analysts forecast that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their price objective on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, UBS Group raised their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average target price of $5.80.

About Hanesbrands

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.