Castleark Management LLC Acquires New Position in Hanesbrands Inc. (NYSE:HBI)

Castleark Management LLC acquired a new stake in Hanesbrands Inc. (NYSE:HBI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 700,540 shares of the textile maker's stock, valued at approximately $5,702,000. Castleark Management LLC owned 0.20% of Hanesbrands at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. grew its position 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 acquiring an additional 3,197,544 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Hanesbrands by 28.2% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings 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 valued at $44,715,000 after purchasing an additional 2,069,315 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Hanesbrands by 324.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,886,647 shares of the textile maker's stock worth $15,357,000 after purchasing an additional 1,442,571 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Hanesbrands during the fourth quarter worth $7,922,000. Institutional investors own 80.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Wall Street Zen raised shares of Hanesbrands from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. UBS Group boosted their price target on Hanesbrands from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Barclays set a $6.00 target price on Hanesbrands and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company boosted their price objective on Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $5.60.

Hanesbrands Price Performance

Shares of NYSE HBI traded up $0.22 during midday trading on Tuesday, reaching $5.11. The company's stock had a trading volume of 1,782,348 shares, compared to its average volume of 7,140,362. The company has a market cap of $1.80 billion, a P/E ratio of -5.55 and a beta of 1.50. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. The business's 50 day moving average price is $5.01 and its two-hundred day moving average price is $6.75. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10.

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