Hanson & Doremus Investment Management Grows Position in Hanesbrands Inc. (NYSE:HBI)

Hanson & Doremus Investment Management grew its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 95,726 shares of the textile maker’s stock after acquiring an additional 10,041 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Hanesbrands were worth $1,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HBI. Vanguard Group Inc. boosted its stake in shares of Hanesbrands by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 40,263,259 shares of the textile maker’s stock worth $693,333,000 after purchasing an additional 495,670 shares during the last quarter. BlackRock Inc. lifted its position in Hanesbrands by 1.5% during the second quarter. BlackRock Inc. now owns 24,829,858 shares of the textile maker’s stock worth $427,569,000 after buying an additional 355,923 shares during the period. State Street Corp lifted its position in Hanesbrands by 2.1% during the third quarter. State Street Corp now owns 20,700,855 shares of the textile maker’s stock worth $317,137,000 after buying an additional 417,929 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Hanesbrands by 10.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 15,480,013 shares of the textile maker’s stock worth $237,154,000 after buying an additional 1,523,461 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Hanesbrands by 43,296.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,222,555 shares of the textile maker’s stock worth $107,153,000 after buying an additional 6,208,216 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

In other news, insider W Howard Upchurch, Jr. sold 93,261 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $16.14, for a total transaction of $1,505,232.54. Following the completion of the sale, the insider now owns 520,490 shares in the company, valued at approximately $8,400,708.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is owned by insiders.

Several analysts have commented on the company. B. Riley restated a “buy” rating and issued a $26.00 price target on shares of Hanesbrands in a report on Monday, November 25th. ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 7th. Bank of America cut Hanesbrands from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $16.00 to $13.00 in a report on Friday, December 13th. Goldman Sachs Group set a $15.00 price target on Hanesbrands and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Barclays assumed coverage on Hanesbrands in a report on Tuesday, November 12th. They issued an “equal weight” rating and a $16.00 price target for the company. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.14.

HBI traded up $0.09 during midday trading on Thursday, hitting $14.26. The company’s stock had a trading volume of 183,455 shares, compared to its average volume of 4,683,714. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. The firm has a market cap of $5.16 billion, a P/E ratio of 8.33, a PEG ratio of 2.58 and a beta of 1.13. The firm has a 50-day moving average price of $14.67 and a two-hundred day moving average price of $15.14. Hanesbrands Inc. has a 52-week low of $12.90 and a 52-week high of $19.38.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Hanesbrands had a return on equity of 57.95% and a net margin of 8.35%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities analysts expect that Hanesbrands Inc. will post 1.76 EPS for the current year.

Hanesbrands Profile

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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