Ameriprise Financial Inc. Buys 2,189,844 Shares of Hanesbrands Inc. (NYSE:HBI)

Ameriprise Financial Inc. grew its position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,951,948 shares of the textile maker's stock after buying an additional 2,189,844 shares during the quarter. Ameriprise Financial Inc. owned 2.82% of Hanesbrands worth $81,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in HBI. Hennessy Advisors Inc. purchased a new stake in shares of Hanesbrands during the fourth quarter valued at approximately $62,199,000. American Century Companies Inc. boosted its holdings in Hanesbrands by 147.7% in the fourth quarter. American Century Companies Inc. now owns 5,362,455 shares of the textile maker's stock worth $43,650,000 after purchasing an additional 3,197,544 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Hanesbrands by 60.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker's stock worth $44,715,000 after purchasing an additional 2,069,315 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Hanesbrands by 484.0% in the third quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker's stock worth $15,757,000 after purchasing an additional 1,776,690 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Hanesbrands in the fourth quarter worth approximately $7,922,000. Hedge funds and other institutional investors own 80.31% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HBI. UBS Group raised their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on shares of Hanesbrands from $5.00 to $3.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Finally, Barclays set a $5.00 target price on shares of Hanesbrands and gave the stock a "cautious" rating in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.20.

Insider Buying and Selling at Hanesbrands

In other Hanesbrands news, Director Robert F. Moran bought 74,850 shares of Hanesbrands stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the acquisition, the director now directly owns 216,373 shares in the company, valued at approximately $1,300,401.73. This represents a 52.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

Hanesbrands Stock Performance

Shares of Hanesbrands stock traded up $0.06 on Tuesday, hitting $5.38. 5,359,013 shares of the company's stock were exchanged, compared to its average volume of 7,118,231. The company has a 50-day simple moving average of $5.15 and a 200-day simple moving average of $6.90. The stock has a market capitalization of $1.90 billion, a PE ratio of -5.85 and a beta of 1.50. Hanesbrands Inc. has a 1 year low of $4.02 and a 1 year high of $9.10. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The firm had revenue of $760.15 million for the quarter, compared to the consensus estimate of $757.42 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The company's revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. As a group, equities analysts anticipate 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.