Geode Capital Management LLC Has $58.18 Million Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Geode Capital Management LLC lifted its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,914,447 shares of the textile maker’s stock after purchasing an additional 89,367 shares during the quarter. Geode Capital Management LLC’s holdings in Hanesbrands were worth $58,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HBI. Rothschild Investment LLC acquired a new position in Hanesbrands during the second quarter worth $39,000. Blue Trust Inc. boosted its stake in shares of Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after acquiring an additional 1,594 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Hanesbrands during the 2nd quarter valued at about $51,000. Whittier Trust Co. bought a new position in shares of Hanesbrands in the 3rd quarter valued at approximately $51,000. Finally, Drucker Wealth 3.0 LLC acquired a new stake in Hanesbrands in the 2nd quarter worth approximately $57,000. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Up 1.6 %

Shares of Hanesbrands stock opened at $8.23 on Monday. Hanesbrands Inc. has a 1 year low of $3.88 and a 1 year high of $9.10. The company’s fifty day simple moving average is $7.96 and its 200-day simple moving average is $6.64. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -12.47 and a beta of 1.64. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same period last year, the business posted $0.10 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Hanesbrands Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HBI shares. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays lifted their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four 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 has a consensus rating of “Hold” and a consensus price target of $6.90.

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.