Maverick Capital Ltd. Makes New Investment in Hanesbrands Inc. (NYSE:HBI)

Maverick Capital Ltd. bought a new stake in Hanesbrands Inc. (NYSE:HBI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 234,132 shares of the textile maker’s stock, valued at approximately $1,154,000. Maverick Capital Ltd. owned 0.07% of Hanesbrands as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HBI. Drucker Wealth 3.0 LLC acquired a new stake in Hanesbrands in the second quarter worth about $57,000. Squarepoint Ops LLC boosted its stake in shares of Hanesbrands by 193.4% in the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock valued at $4,112,000 after purchasing an additional 549,855 shares during the last quarter. Aristeia Capital L.L.C. grew its position in shares of Hanesbrands by 63.3% during the 2nd quarter. Aristeia Capital L.L.C. now owns 117,289 shares of the textile maker’s stock worth $578,000 after buying an additional 45,468 shares during the period. K2 Principal Fund L.P. bought a new stake in shares of Hanesbrands during the second quarter worth approximately $246,000. Finally, Marshall Wace LLP acquired a new position in Hanesbrands in the second quarter valued at approximately $70,000. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Performance

HBI stock opened at $7.29 on Friday. Hanesbrands Inc. has a 1-year low of $3.55 and a 1-year high of $7.31. The business’s 50-day moving average price is $6.24 and its two-hundred day moving average price is $5.43. The firm has a market cap of $2.56 billion, a PE ratio of -121.50 and a beta of 1.57. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. Hanesbrands’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

HBI has been the subject of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Barclays lifted their price objective on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Finally, UBS Group boosted their target price on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.