Choreo LLC Invests $82,000 in Hanesbrands Inc. (NYSE:HBI)

Choreo LLC purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,923 shares of the textile maker’s stock, valued at approximately $82,000.

Other large investors have also modified their holdings of the company. Concord Wealth Partners raised its stake in shares of Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after purchasing an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Hanesbrands during the first quarter worth approximately $35,000. Hollencrest Capital Management purchased a new stake in shares of Hanesbrands during the first quarter worth approximately $41,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Hanesbrands during the first quarter worth approximately $44,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Hanesbrands during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Up 0.6 %

Hanesbrands stock opened at $6.99 on Friday. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -116.50 and a beta of 1.57. Hanesbrands Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $7.06. The stock’s fifty day moving average is $6.07 and its two-hundred day moving average is $5.38.

Hanesbrands (NYSE:HBI) last posted its earnings results 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. The company had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. Hanesbrands’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Analysts predict that Hanesbrands Inc. will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

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