Hanesbrands Inc. (NYSE:HBI) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 484.0% during the third quarter, HoldingsChannel.com reports. The fund owned 2,143,791 shares of the textile maker’s stock after purchasing an additional 1,776,690 shares during the period. JPMorgan Chase & Co.’s holdings in Hanesbrands were worth $15,757,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Hanesbrands by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the period. Verition Fund Management LLC acquired a new position in shares of Hanesbrands during the 3rd quarter worth about $7,249,000. BNP Paribas Financial Markets lifted its stake in shares of Hanesbrands by 388.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock worth $5,456,000 after buying an additional 590,493 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Hanesbrands by 193.4% in the second quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock valued at $4,112,000 after acquiring an additional 549,855 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Hanesbrands by 481.0% in the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after purchasing an additional 430,534 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Price Performance

HBI opened at $8.30 on Friday. Hanesbrands Inc. has a 12-month low of $3.88 and a 12-month high of $9.10. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -12.58 and a beta of 1.64. The stock has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $6.93. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. During the same period last year, the firm earned $0.10 EPS. Hanesbrands’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts predict that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HBI has been the subject of a number of recent research reports. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays increased their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hanesbrands has an average rating of “Hold” and a consensus price target 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.