State of Alaska Department of Revenue Has $1.61 Million Stake in Hanesbrands Inc. (HBI)

State of Alaska Department of Revenue lifted its position in Hanesbrands Inc. (NYSE:HBI) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,653 shares of the textile maker’s stock after purchasing an additional 6,445 shares during the period. State of Alaska Department of Revenue’s holdings in Hanesbrands were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WP Advisors LLC purchased a new stake in shares of Hanesbrands in the second quarter worth $145,000. Amica Retiree Medical Trust increased its stake in shares of Hanesbrands by 180.3% in the second quarter. Amica Retiree Medical Trust now owns 7,296 shares of the textile maker’s stock worth $161,000 after purchasing an additional 4,693 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Hanesbrands by 124.7% in the second quarter. Advisory Services Network LLC now owns 8,503 shares of the textile maker’s stock worth $187,000 after purchasing an additional 4,719 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Hanesbrands during the second quarter worth $200,000. Finally, Cleararc Capital Inc. bought a new position in shares of Hanesbrands during the second quarter worth $203,000. 99.58% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:HBI opened at $16.55 on Friday. Hanesbrands Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 5.41, a current ratio of 2.02 and a quick ratio of 0.84. The firm has a market cap of $6.09 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.96 and a beta of 0.37.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business earned $0.53 EPS. Hanesbrands’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that Hanesbrands Inc. will post 1.76 earnings per share for the current year.

HBI has been the subject of a number of research reports. Credit Suisse Group dropped their target price on shares of Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. UBS Group initiated coverage on shares of Hanesbrands in a research report on Thursday, June 21st. They set a “neutral” rating and a $22.00 target price for the company. Zacks Investment Research upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, July 24th. Finally, Buckingham Research dropped their target price on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $22.75.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

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