Principal Financial Group Inc. Grows Position in Hanesbrands Inc. (NYSE:HBI)

Principal Financial Group Inc. raised its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,720,247 shares of the textile maker’s stock after buying an additional 53,995 shares during the quarter. Principal Financial Group Inc.’s holdings in Hanesbrands were worth $14,003,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HBI. Creative Planning grew its holdings in shares of Hanesbrands by 22.5% during the third quarter. Creative Planning now owns 152,998 shares of the textile maker’s stock worth $1,125,000 after buying an additional 28,126 shares in the last quarter. Blue Trust Inc. boosted its position 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 valued at $39,000 after acquiring an additional 1,594 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Hanesbrands by 481.0% during the 3rd quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after acquiring an additional 430,534 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Hanesbrands by 8.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 115,226 shares of the textile maker’s stock valued at $847,000 after acquiring an additional 9,457 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Hanesbrands during the 3rd quarter valued at about $652,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HBI shares. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price target (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. Finally, Barclays boosted their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.10.

Insider Buying and Selling at Hanesbrands

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of Hanesbrands stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $6.01 per share, with a total value of $449,848.50. Following the completion of the transaction, the director now owns 216,373 shares of the company’s stock, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Hanesbrands Stock Performance

NYSE HBI opened at $6.44 on Thursday. The firm’s 50-day moving average is $7.78 and its two-hundred day moving average is $7.48. Hanesbrands Inc. has a 12 month low of $4.40 and a 12 month high of $9.10. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The stock has a market capitalization of $2.27 billion, a P/E ratio of -7.00 and a beta of 1.63.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $888.47 million for the quarter, compared to analysts’ expectations of $899.30 million. On average, sell-side analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

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.