ERTS Wealth Advisors LLC Buys New Stake in Hanesbrands Inc. (NYSE:HBI)

ERTS Wealth Advisors LLC acquired a new position in Hanesbrands Inc. (NYSE:HBI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,354 shares of the textile maker’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBI. Vanguard Group Inc. raised its position in shares of Hanesbrands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after purchasing an additional 1,362,140 shares during the last quarter. Loews Corp boosted its holdings in shares of Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after purchasing an additional 15,206,007 shares during the last quarter. Cooke & Bieler LP grew its position in shares of Hanesbrands by 2.1% in the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after purchasing an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in Hanesbrands by 3.9% during the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after buying an additional 183,069 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on HBI shares. Stifel Nicolaus raised their target price on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. UBS Group boosted their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Finally, Barclays increased their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average price target of $5.80.

Hanesbrands Trading Up 1.1 %

HBI traded up $0.08 on Friday, reaching $7.55. 510,842 shares of the company’s stock were exchanged, compared to its average volume of 7,901,620. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -124.50 and a beta of 1.58. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46. Hanesbrands Inc. has a twelve month low of $3.58 and a twelve month high of $7.56. The company’s 50 day moving average is $6.69 and its 200-day moving average is $5.61.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. Equities analysts predict that Hanesbrands Inc. will post 0.34 earnings per share 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.