Raymond James Financial Inc. Purchases New Holdings in Hanesbrands Inc. (NYSE:HBI)

Raymond James Financial Inc. acquired a new stake in Hanesbrands Inc. (NYSE:HBI) in the 4th quarter, Holdings Channel.com reports. The fund acquired 662,796 shares of the textile maker’s stock, valued at approximately $5,395,000.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after purchasing an additional 2,712 shares in the last quarter. WFA Asset Management Corp bought a new position in Hanesbrands in the fourth quarter valued at approximately $46,000. GAMMA Investing LLC raised its position in Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 1,895 shares in the last quarter. Allworth Financial LP lifted its stake in Hanesbrands by 459.2% during the fourth quarter. Allworth Financial LP now owns 8,220 shares of the textile maker’s stock worth $69,000 after purchasing an additional 6,750 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Hanesbrands in the 3rd quarter valued at $77,000. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Price Performance

Shares of HBI opened at $6.04 on Tuesday. The business has a 50-day moving average of $6.95 and a 200-day moving average of $7.45. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. Hanesbrands Inc. has a 1 year low of $4.40 and a 1 year high of $9.10. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -6.56 and a beta of 1.75.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The business had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. As a group, equities research analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert F. Moran bought 74,850 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now directly owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This represents a 52.89 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HBI. Stifel Nicolaus restated a “hold” rating and issued a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.10.

Hanesbrands 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.