JPMorgan Chase & Co. Raises Holdings in Hanesbrands Inc. (NYSE:HBI)

JPMorgan Chase & Co. increased its position in shares of Hanesbrands Inc. (NYSE:HBI) by 484.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,143,791 shares of the textile maker’s stock after purchasing an additional 1,776,690 shares during the quarter. JPMorgan Chase & Co. owned 0.61% of Hanesbrands worth $15,757,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HBI. Geode Capital Management LLC raised its position in shares of Hanesbrands by 1.1% in the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after acquiring an additional 89,367 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hanesbrands by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after buying an additional 1,024,308 shares during the period. Brandes Investment Partners LP raised its position in Hanesbrands by 3.9% in the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Hanesbrands by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock worth $32,212,000 after purchasing an additional 11,074 shares in the last quarter. Finally, Barington Capital Group L.P. boosted its holdings in Hanesbrands by 2.8% during the 2nd quarter. Barington Capital Group L.P. now owns 1,852,500 shares of the textile maker’s stock valued at $9,133,000 after acquiring an additional 50,000 shares during the period. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Price Performance

NYSE:HBI opened at $8.30 on Friday. The company’s 50-day moving average is $8.26 and its two-hundred day moving average is $6.93. Hanesbrands Inc. has a 12-month low of $3.88 and a 12-month high of $9.10. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -12.58 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 announced its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating 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 business had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts expect that Hanesbrands Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays lifted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Hanesbrands presently has a consensus rating of “Hold” and a consensus target price of $6.90.

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.