Bank of New York Mellon Corp Grows Stake in Hanesbrands Inc. (NYSE:HBI)

Bank of New York Mellon Corp boosted its position in shares of Hanesbrands Inc. (NYSE:HBI) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,559,231 shares of the textile maker’s stock after purchasing an additional 15,727 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.73% of Hanesbrands worth $20,832,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HBI. Hennessy Advisors Inc. acquired a new stake in Hanesbrands in the 4th quarter valued at about $62,199,000. JPMorgan Chase & Co. lifted its holdings in shares of Hanesbrands by 484.0% in the third quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock valued at $15,757,000 after purchasing an additional 1,776,690 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Hanesbrands in the third quarter valued at approximately $7,249,000. BNP Paribas Financial Markets grew its position in shares of Hanesbrands by 388.9% in the third quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock valued at $5,456,000 after purchasing an additional 590,493 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Hanesbrands during the 4th quarter worth approximately $2,066,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price objective (down previously from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. Finally, Barclays boosted their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

Insider Buying and Selling at Hanesbrands

In related news, Director Robert F. Moran bought 74,850 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the acquisition, the director now owns 216,373 shares in the company, valued at $1,300,401.73. This represents a 52.89 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Hanesbrands Stock Performance

Shares of HBI stock opened at $5.86 on Tuesday. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -6.36 and a beta of 1.75. Hanesbrands Inc. has a one year low of $4.40 and a one year high of $9.10. The company has a 50 day moving average price of $7.46 and a 200 day moving average price of $7.48.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, topping the consensus estimate 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. Sell-side analysts anticipate that Hanesbrands Inc. will post 0.53 EPS for the current year.

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.