Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Hanesbrands Inc. (NYSE:HBI)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Hanesbrands Inc. (NYSE:HBI) by 9.3% during the 4th quarter, Holdings Channel reports. The fund owned 78,025 shares of the textile maker’s stock after purchasing an additional 6,644 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hanesbrands were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HBI. Landscape Capital Management L.L.C. increased its holdings in shares of Hanesbrands by 609.5% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 1,294,682 shares of the textile maker’s stock valued at $5,127,000 after purchasing an additional 1,112,202 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Hanesbrands by 21.7% in the third quarter. Brandes Investment Partners LP now owns 3,874,803 shares of the textile maker’s stock worth $15,344,000 after acquiring an additional 691,149 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Hanesbrands during the 3rd quarter worth about $1,569,000. International Assets Investment Management LLC grew its position in shares of Hanesbrands by 374.5% during the 4th quarter. International Assets Investment Management LLC now owns 490,735 shares of the textile maker’s stock valued at $2,189,000 after acquiring an additional 387,305 shares during the period. Finally, Wolverine Asset Management LLC boosted its position in Hanesbrands by 160.4% during the third quarter. Wolverine Asset Management LLC now owns 435,051 shares of the textile maker’s stock worth $1,723,000 after purchasing an additional 267,988 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Stock Performance

Shares of NYSE:HBI opened at $4.44 on Friday. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. Hanesbrands Inc. has a 1 year low of $3.54 and a 1 year high of $5.86. The firm has a market capitalization of $1.56 billion, a PE ratio of -88.80 and a beta of 1.62. The business’s 50 day moving average price is $5.12 and its 200-day moving average price is $4.54.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, February 15th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. Hanesbrands’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. As a group, equities research analysts expect that Hanesbrands Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup boosted their price objective on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Wedbush increased their price objective on shares of Hanesbrands from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd.

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.