Harvest Fund Management Co. Ltd Buys New Position in Hanesbrands Inc. (NYSE:HBI)

Harvest Fund Management Co. Ltd bought a new stake in Hanesbrands Inc. (NYSE:HBI) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,312 shares of the textile maker’s stock, valued at approximately $141,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in Hanesbrands in the fourth quarter valued at approximately $62,199,000. JPMorgan Chase & Co. grew its stake in Hanesbrands by 484.0% in the third quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock valued at $15,757,000 after purchasing an additional 1,776,690 shares in the last quarter. Verition Fund Management LLC bought a new position in Hanesbrands in the third quarter valued at approximately $7,249,000. Raymond James Financial Inc. bought a new position in Hanesbrands in the fourth quarter valued at approximately $5,395,000. Finally, BNP Paribas Financial Markets grew its stake in Hanesbrands by 388.9% in the third quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock valued at $5,456,000 after purchasing an additional 590,493 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Analyst Ratings Changes

HBI has been the subject of a number of analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $7.00 price target (down from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.10.

Insider Activity at Hanesbrands

In other news, Director Robert F. Moran purchased 74,850 shares of Hanesbrands stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the purchase, the director now directly owns 216,373 shares of the company’s stock, valued at $1,300,401.73. This trade represents a 52.89 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Hanesbrands Stock Performance

Shares of NYSE HBI opened at $6.01 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a 12 month low of $4.40 and a 12 month high of $9.10. The stock has a 50 day moving average of $6.99 and a 200-day moving average of $7.44. The company has a market capitalization of $2.12 billion, a P/E ratio of -6.53 and a beta of 1.75.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $888.47 million during the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. As a group, equities research analysts predict that Hanesbrands Inc. will post 0.53 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.