Proficio Capital Partners LLC Buys New Shares in Hanesbrands Inc. (NYSE:HBI)

Proficio Capital Partners LLC bought a new position in shares of Hanesbrands Inc. (NYSE:HBI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 42,532 shares of the textile maker’s stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HBI. Natixis Advisors LLC acquired a new stake in shares of Hanesbrands during the 3rd quarter worth approximately $248,000. Intech Investment Management LLC raised its stake in shares of Hanesbrands by 628.2% in the 3rd quarter. Intech Investment Management LLC now owns 74,766 shares of the textile maker’s stock valued at $550,000 after buying an additional 64,499 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hanesbrands by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock worth $32,212,000 after acquiring an additional 11,074 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Hanesbrands by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 184,714 shares of the textile maker’s stock valued at $1,358,000 after acquiring an additional 7,897 shares in the last quarter. Finally, FMR LLC increased its stake in Hanesbrands by 203.5% in the third quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock valued at $851,000 after acquiring an additional 77,669 shares during the period. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Price Performance

Shares of Hanesbrands stock opened at $5.93 on Wednesday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -6.45 and a beta of 1.75. The firm’s 50-day moving average price is $6.95 and its two-hundred day moving average price is $7.45. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a 1-year low of $4.40 and a 1-year high of $9.10.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The business had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. On average, equities analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HBI has been the topic of a number of recent research reports. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Stifel Nicolaus restated a “hold” rating and set a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.10.

Insider Activity

In related news, Director Robert F. Moran bought 74,850 shares of Hanesbrands stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the transaction, the director now owns 216,373 shares of the company’s stock, valued at approximately $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 is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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.