Hanesbrands Inc. $HBI Shares Bought by Barington Capital Group L.P.

Barington Capital Group L.P. grew its stake in Hanesbrands Inc. (NYSE:HBI) by 31.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,502,100 shares of the textile maker’s stock after purchasing an additional 599,600 shares during the period. Hanesbrands comprises approximately 10.7% of Barington Capital Group L.P.’s investment portfolio, making the stock its 6th largest holding. Barington Capital Group L.P. owned 0.71% of Hanesbrands worth $11,460,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of Hanesbrands by 240.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 6,613 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 4,672 shares during the period. Strs Ohio purchased a new position in Hanesbrands in the first quarter valued at $38,000. AlphaQuest LLC acquired a new position in shares of Hanesbrands in the first quarter worth about $44,000. Tranquilli Financial Advisor LLC acquired a new position in shares of Hanesbrands in the first quarter worth about $58,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Hanesbrands during the 1st quarter worth about $58,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Price Performance

Shares of NYSE HBI opened at $6.61 on Monday. The firm has a 50-day simple moving average of $6.67 and a 200-day simple moving average of $5.72. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 4.94. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 7.18 and a beta of 1.71. Hanesbrands Inc. has a 52 week low of $3.96 and a 52 week high of $8.98.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, November 6th. The textile maker reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $891.68 million for the quarter, compared to analyst estimates of $905.37 million. Hanesbrands had a return on equity of 129.43% and a net margin of 9.34%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, equities analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HBI shares. UBS Group upped their price target on Hanesbrands from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wall Street Zen upgraded Hanesbrands from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Citigroup upped their target price on Hanesbrands from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised shares of Hanesbrands from a “strong sell” rating to an “equal weight” rating and lifted their price target for the company from $5.00 to $6.00 in a research note on Thursday, August 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Hanesbrands in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.60.

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.