Ballentine Partners LLC Invests $92,000 in Hanesbrands Inc. (NYSE:HBI)

Ballentine Partners LLC purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,293 shares of the textile maker’s stock, valued at approximately $92,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Hanesbrands by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 1,594 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Hanesbrands in the second quarter valued at about $51,000. Whittier Trust Co. acquired a new stake in shares of Hanesbrands in the third quarter valued at about $51,000. GAMMA Investing LLC raised its position in Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after acquiring an additional 1,895 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Hanesbrands in the 2nd quarter valued at about $70,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Price Performance

Shares of HBI opened at $8.36 on Monday. Hanesbrands Inc. has a one year low of $4.06 and a one year high of $9.10. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -12.66 and a beta of 1.64. The stock’s fifty day moving average is $8.41 and its 200-day moving average is $7.23. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Equities analysts anticipate that Hanesbrands Inc. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HBI shares. Barclays increased their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.90.

Hanesbrands 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.