Advisors Preferred LLC Acquires 260,097 Shares of Hanesbrands Inc. (NYSE:HBI)

Advisors Preferred LLC raised its stake in Hanesbrands Inc. (NYSE:HBI - Free Report) by 352.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 333,892 shares of the textile maker's stock after buying an additional 260,097 shares during the quarter. Advisors Preferred LLC owned about 0.09% of Hanesbrands worth $1,913,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Hanesbrands by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker's stock valued at $325,884,000 after buying an additional 421,915 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Hanesbrands by 28.2% in the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker's stock worth $81,009,000 after purchasing an additional 2,189,844 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hanesbrands by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker's stock worth $56,245,000 after purchasing an additional 171,918 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Hanesbrands by 5.4% in the first quarter. Allianz Asset Management GmbH now owns 5,571,669 shares of the textile maker's stock worth $32,149,000 after purchasing an additional 287,752 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of 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 in the last quarter. Institutional investors own 80.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HBI. Barclays set a $6.00 price objective on shares of Hanesbrands and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their price objective on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Stifel Nicolaus lowered 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. Wall Street Zen downgraded shares of Hanesbrands from a "buy" rating to a "hold" rating in a report on Saturday. Finally, UBS Group boosted 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Hanesbrands currently has a consensus rating of "Hold" and an average target price of $5.75.

Hanesbrands Price Performance

Hanesbrands stock traded down $0.02 during trading hours on Friday, reaching $4.57. 3,379,913 shares of the stock were exchanged, compared to its average volume of 4,258,457. The company has a market cap of $1.61 billion, a P/E ratio of -5.43 and a beta of 1.47. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 53.45. Hanesbrands Inc. has a twelve month low of $4.02 and a twelve month high of $9.10. The stock has a 50 day moving average of $4.73 and a two-hundred day moving average of $5.65.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.04. The firm had revenue of $760.15 million during the quarter, compared to analysts' expectations of $757.42 million. Hanesbrands had a negative net margin of 8.12% and a positive return on equity of 262.15%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Equities analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

About Hanesbrands

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.