Zurcher Kantonalbank Zurich Cantonalbank Purchases 9,824 Shares of Hanesbrands Inc. (NYSE:HBI)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hanesbrands Inc. (NYSE:HBI) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,015 shares of the textile maker’s stock after acquiring an additional 9,824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hanesbrands were worth $822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HBI. Hennessy Advisors Inc. purchased a new position in Hanesbrands in the fourth quarter worth $62,199,000. JPMorgan Chase & Co. grew its position in Hanesbrands by 484.0% during the third quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock valued at $15,757,000 after buying an additional 1,776,690 shares during the period. Verition Fund Management LLC purchased a new stake in Hanesbrands during the third quarter worth about $7,249,000. Raymond James Financial Inc. bought a new stake in Hanesbrands in the fourth quarter worth about $5,395,000. Finally, BNP Paribas Financial Markets raised its position in Hanesbrands by 388.9% in the third quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock worth $5,456,000 after acquiring an additional 590,493 shares during the period. 80.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBI has been the subject of several research analyst reports. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target (down previously from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hanesbrands has a consensus rating of “Hold” and a consensus target price of $7.10.

Insider Buying and Selling at Hanesbrands

In other news, Director Robert F. Moran purchased 74,850 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, with a total value of $449,848.50. Following the acquisition, the director now directly owns 216,373 shares in the company, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Hanesbrands Stock Down 0.7 %

HBI opened at $6.02 on Friday. Hanesbrands Inc. has a 12 month low of $4.40 and a 12 month high of $9.10. The company has a market cap of $2.12 billion, a PE ratio of -6.54 and a beta of 1.75. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The company has a 50 day moving average of $7.04 and a 200 day moving average of $7.44.

Hanesbrands (NYSE:HBI) last posted 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 firm had revenue of $888.47 million during the quarter, compared to analyst estimates of $899.30 million. On average, sell-side analysts expect that Hanesbrands Inc. will post 0.53 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.