Allianz Asset Management GmbH Increases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Allianz Asset Management GmbH lifted its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,571,669 shares of the textile maker's stock after purchasing an additional 287,752 shares during the quarter. Allianz Asset Management GmbH owned about 1.58% of Hanesbrands worth $32,149,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in HBI. Hsbc Holdings PLC increased its stake in shares of Hanesbrands by 175.7% during the fourth quarter. Hsbc Holdings PLC now owns 276,547 shares of the textile maker's stock worth $2,283,000 after buying an additional 176,238 shares during the period. Trexquant Investment LP increased its stake in shares of Hanesbrands by 395.1% during the fourth quarter. Trexquant Investment LP now owns 548,724 shares of the textile maker's stock worth $4,467,000 after buying an additional 437,895 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Hanesbrands during the fourth quarter worth approximately $980,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Hanesbrands by 60.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 216,653 shares of the textile maker's stock worth $1,250,000 after buying an additional 81,709 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Hanesbrands by 40.9% during the fourth quarter. Deutsche Bank AG now owns 366,836 shares of the textile maker's stock worth $2,986,000 after buying an additional 106,464 shares during the period. Institutional investors and hedge funds own 80.31% of the company's stock.

Hanesbrands Stock Down 3.1%

Hanesbrands stock traded down $0.15 during mid-day trading on Thursday, hitting $4.59. The company had a trading volume of 4,403,628 shares, compared to its average volume of 4,228,316. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -5.46 and a beta of 1.47. Hanesbrands Inc. has a 1 year low of $4.02 and a 1 year high of $9.10. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 53.45. The business has a fifty day moving average of $4.76 and a 200 day moving average of $5.70.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays set a $6.00 target price on shares of Hanesbrands and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Wells Fargo & Company increased their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Stifel Nicolaus dropped their price target on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group increased their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.75.

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.