Cullen Investment Group LTD. Takes Position in Hanesbrands Inc. (NYSE:HBI)

Cullen Investment Group LTD. bought a new stake in Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,384 shares of the textile maker’s stock, valued at approximately $95,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HBI. Canada Pension Plan Investment Board increased its holdings in Hanesbrands by 41.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker’s stock valued at $74,000 after purchasing an additional 1,480 shares during the period. Franklin Resources Inc. increased its holdings in Hanesbrands by 8.0% during the 2nd quarter. Franklin Resources Inc. now owns 21,973 shares of the textile maker’s stock valued at $226,000 after purchasing an additional 1,629 shares during the period. Alliancebernstein L.P. increased its holdings in Hanesbrands by 0.4% during the 4th quarter. Alliancebernstein L.P. now owns 477,420 shares of the textile maker’s stock valued at $3,036,000 after purchasing an additional 2,048 shares during the period. Harbour Investments Inc. increased its holdings in Hanesbrands by 63.2% during the 4th quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 2,332 shares during the period. Finally, J.W. Cole Advisors Inc. increased its holdings in Hanesbrands by 23.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,351 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 2,341 shares during the period. Institutional investors own 80.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HBI. Citigroup boosted their price target on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Wedbush upped their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a report 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 Down 0.2 %

NYSE HBI opened at $4.68 on Wednesday. The business’s fifty day moving average price is $5.10 and its 200-day moving average price is $4.48. 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.

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