Mackenzie Financial Corp Increases Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Mackenzie Financial Corp lifted its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 436.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,749 shares of the textile maker’s stock after buying an additional 97,426 shares during the period. Mackenzie Financial Corp’s holdings in Hanesbrands were worth $691,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in Hanesbrands by 28.2% in the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker’s stock worth $81,009,000 after purchasing an additional 2,189,844 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Hanesbrands by 324.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,886,647 shares of the textile maker’s stock worth $15,357,000 after purchasing an additional 1,442,571 shares during the last quarter. Wellington Management Group LLP purchased a new position in Hanesbrands in the fourth quarter worth $7,922,000. Susquehanna Fundamental Investments LLC purchased a new position in Hanesbrands in the fourth quarter worth $7,146,000. Finally, Castleark Management LLC purchased a new position in Hanesbrands in the fourth quarter worth $5,702,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their price target on Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen cut Hanesbrands from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Barclays set a $6.00 price target on Hanesbrands and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Finally, UBS Group upped their price target on Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average price target of $5.75.

Hanesbrands Trading Down 1.1%

Shares of HBI stock opened at $4.17 on Thursday. The stock has a market capitalization of $1.47 billion, a PE ratio of -4.96 and a beta of 1.40. Hanesbrands Inc. has a 1-year low of $3.96 and a 1-year high of $9.10. The business has a 50-day moving average of $4.59 and a 200 day moving average of $5.42. The company has a debt-to-equity ratio of 53.45, a current ratio of 1.55 and a quick ratio of 0.67.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Hanesbrands had a positive return on equity of 262.15% and a negative net margin of 8.12%. The business had revenue of $760.15 million during the quarter, compared to analysts’ expectations of $757.42 million. During the same quarter last year, the business posted ($0.02) EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share 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.