Hennessy Advisors Inc. Acquires Shares of 7,641,100 Hanesbrands Inc. (NYSE:HBI)

Hennessy Advisors Inc. bought a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,641,100 shares of the textile maker’s stock, valued at approximately $62,199,000. Hanesbrands comprises approximately 1.9% of Hennessy Advisors Inc.’s portfolio, making the stock its 8th biggest position. Hennessy Advisors Inc. owned approximately 2.17% of Hanesbrands at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HBI. Blue Trust Inc. raised its position in shares of Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares during the last quarter. GAMMA Investing LLC lifted its stake in Hanesbrands by 39.7% in the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after buying an additional 1,895 shares during the period. Evergreen Capital Management LLC boosted its holdings in Hanesbrands by 6.6% during the second quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock worth $185,000 after buying an additional 2,316 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of Hanesbrands by 8.2% during the 2nd quarter. Moors & Cabot Inc. now owns 46,383 shares of the textile maker’s stock worth $229,000 after buying an additional 3,500 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Hanesbrands by 20.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 26,728 shares of the textile maker’s stock valued at $132,000 after acquiring an additional 4,623 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Trading Down 2.8 %

Shares of HBI opened at $8.31 on Friday. Hanesbrands Inc. has a twelve month low of $3.88 and a twelve month high of $9.10. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The firm’s 50 day moving average price is $8.36 and its two-hundred day moving average price is $7.05.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, research analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Barclays upped their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hanesbrands has a consensus rating of “Hold” and a consensus price target of $6.90.

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.