Teacher Retirement System of Texas Invests $297,000 in Hanesbrands Inc. (NYSE:HBI)

Teacher Retirement System of Texas bought a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 51,525 shares of the textile maker’s stock, valued at approximately $297,000.

A number of other large investors have also modified their holdings of the business. NewEdge Advisors LLC grew its holdings in shares of Hanesbrands by 4.3% in the fourth quarter. NewEdge Advisors LLC now owns 46,806 shares of the textile maker’s stock valued at $381,000 after purchasing an additional 1,944 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Hanesbrands by 5.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 36,964 shares of the textile maker’s stock valued at $301,000 after purchasing an additional 1,973 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Hanesbrands by 9.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 26,288 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 2,255 shares during the period. Fifth Third Bancorp grew its holdings in shares of Hanesbrands by 37.8% in the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 2,267 shares during the period. Finally, Corton Capital Inc. grew its holdings in shares of Hanesbrands by 23.4% in the fourth quarter. Corton Capital Inc. now owns 16,626 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 3,151 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Performance

Shares of HBI opened at $4.52 on Friday. The company’s 50 day simple moving average is $4.81 and its 200-day simple moving average is $5.78. Hanesbrands Inc. has a 12-month low of $4.02 and a 12-month high of $9.10. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 53.45. The firm has a market cap of $1.60 billion, a PE ratio of -5.38 and a beta of 1.47.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. The company had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a negative net margin of 8.12% and a positive return on equity of 262.15%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, equities analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HBI. Wells Fargo & Company upped their price objective on shares of Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, May 14th. Wall Street Zen raised shares of Hanesbrands from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Barclays set a $6.00 target price on shares of Hanesbrands and gave the company an “equal weight” rating in a report on Tuesday, May 20th. Stifel Nicolaus reduced their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group increased their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Hanesbrands presently has an average rating of “Hold” and an average price target of $5.75.

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.