Raymond James Financial Services Advisors Inc. Boosts Stake in Hanesbrands Inc. (NYSE:HBI)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 327,540 shares of the textile maker’s stock after acquiring an additional 16,831 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.09% of Hanesbrands worth $1,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HBI. BlackRock Inc. raised its stake in Hanesbrands by 16.6% during the 1st quarter. BlackRock Inc. now owns 46,483,518 shares of the textile maker’s stock valued at $244,503,000 after acquiring an additional 6,630,208 shares during the last quarter. Millennium Management LLC raised its stake in Hanesbrands by 991.4% during the 4th quarter. Millennium Management LLC now owns 3,896,974 shares of the textile maker’s stock valued at $24,785,000 after acquiring an additional 3,539,911 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Hanesbrands during the 1st quarter worth approximately $14,888,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Hanesbrands by 2,900.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,354,491 shares of the textile maker’s stock worth $14,975,000 after buying an additional 2,276,017 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Hanesbrands by 176.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,175,319 shares of the textile maker’s stock worth $47,281,000 after buying an additional 2,025,040 shares in the last quarter. 80.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HBI shares. Citigroup increased their target price on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Wedbush increased their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Hanesbrands Stock Performance

HBI opened at $4.86 on Friday. The stock has a market cap of $1.71 billion, a P/E ratio of -97.08 and a beta of 1.58. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. The stock’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $4.46. Hanesbrands Inc. has a 1-year low of $3.54 and a 1-year high of $5.86.

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

Hanesbrands Profile

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.