Hanesbrands Inc. (NYSE:HBI) Stock Position Raised by Arizona State Retirement System

Arizona State Retirement System increased its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 98,420 shares of the textile maker’s stock after acquiring an additional 2,221 shares during the period. Arizona State Retirement System’s holdings in Hanesbrands were worth $485,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Concord Wealth Partners increased its position in Hanesbrands by 220.3% in the 1st quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after buying an additional 3,618 shares during the period. Tradewinds Capital Management LLC acquired a new stake in Hanesbrands in the 1st quarter valued at $35,000. Rothschild Investment LLC acquired a new stake in Hanesbrands in the 2nd quarter valued at $39,000. Hollencrest Capital Management acquired a new position in Hanesbrands in the first quarter worth $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Hanesbrands in the first quarter worth $44,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HBI has been the topic of a number of recent analyst reports. Barclays boosted 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. UBS Group upped their price objective on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Hanesbrands in a report on Thursday, June 6th. Finally, Stifel Nicolaus increased their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands presently has an average rating of “Hold” and an average target price of $5.80.

Hanesbrands Stock Performance

HBI opened at $6.79 on Tuesday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -113.17 and a beta of 1.57. 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 Inc. has a 12-month low of $3.54 and a 12-month high of $6.93. The business has a 50 day moving average of $5.91 and a 200-day moving average of $5.34.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Hanesbrands Company 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.