Seven Eight Capital LP Takes $647,000 Position in Hanesbrands Inc. (NYSE:HBI)

Seven Eight Capital LP purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 131,299 shares of the textile maker’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Hanesbrands by 13.9% in the 4th quarter. Victory Capital Management Inc. now owns 70,684 shares of the textile maker’s stock worth $315,000 after acquiring an additional 8,605 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Hanesbrands by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,040,749 shares of the textile maker’s stock worth $18,022,000 after purchasing an additional 174,055 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Hanesbrands by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,749,433 shares of the textile maker’s stock valued at $25,642,000 after buying an additional 632,865 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Hanesbrands during the 4th quarter worth approximately $100,000. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Hanesbrands by 31.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 16,146 shares of the textile maker’s stock worth $72,000 after buying an additional 3,897 shares during the last quarter. 80.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus increased their price target on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays lifted their target price 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 increased their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Hanesbrands in a research report on Thursday, June 6th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Stock Up 0.4 %

Shares of NYSE HBI opened at $6.98 on Friday. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The stock has a market capitalization of $2.45 billion, a PE ratio of -116.33 and a beta of 1.57. Hanesbrands Inc. has a one year low of $3.54 and a one year high of $7.06. The business’s fifty day moving average price is $6.07 and its 200-day moving average price is $5.38.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, equities research analysts anticipate that Hanesbrands Inc. will post 0.35 EPS for the current year.

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.