KLCM Advisors Inc. Boosts Holdings in Hanesbrands Inc. (NYSE:HBI)

Key Points

• KLCM Advisors Inc. increased its holdings in Hanesbrands Inc. by 11.5% during Q1, owning approximately $6.39 million worth of shares.
• Hanesbrands reported $0.24 earnings per share for the latest quarter, exceeding estimates of $0.18, but experienced a 0.4% decline in revenue year-over-year.
• Analysts have raised price targets for Hanesbrands, with UBS increasing theirs from $8.00 to $9.00, while the consensus rating for the stock remains a "Moderate Buy."

KLCM Advisors Inc. lifted its position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,107,400 shares of the textile maker's stock after buying an additional 114,148 shares during the quarter. KLCM Advisors Inc. owned approximately 0.31% of Hanesbrands worth $6,390,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HBI. Vanguard Group Inc. lifted its stake in Hanesbrands by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 41,041,617 shares of the textile maker's stock worth $236,810,000 after purchasing an additional 1,006,739 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Hanesbrands by 28.2% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Hanesbrands by 2.6% in the 4th 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 stake in Hanesbrands by 5.4% in the 1st 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, Northern Trust Corp increased its holdings in shares of Hanesbrands by 14.4% in the 4th quarter. Northern Trust Corp now owns 4,171,933 shares of the textile maker's stock worth $33,960,000 after buying an additional 524,716 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company's stock.

Hanesbrands Stock Down 0.2%

Shares of NYSE HBI traded down $0.01 during midday trading on Friday, reaching $6.44. 16,904,633 shares of the company's stock traded hands, compared to its average volume of 12,811,254. The company has a quick ratio of 0.74, a current ratio of 1.52 and a debt-to-equity ratio of 13.62. The stock's 50 day simple moving average is $4.70 and its 200-day simple moving average is $5.27. Hanesbrands Inc. has a one year low of $3.96 and a one year high of $9.10. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 26.83 and a beta of 1.40.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its earnings results on Thursday, August 7th. The textile maker reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. Hanesbrands had a net margin of 2.49% and a return on equity of 226.31%. The company had revenue of $991.33 million during the quarter, compared to analysts' expectations of $971.93 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Hanesbrands's revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HBI shares. Wall Street Zen upgraded Hanesbrands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barclays set a $6.00 price target on Hanesbrands and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. UBS Group lifted their price target on Hanesbrands from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company upgraded shares of Hanesbrands from a "strong sell" rating to a "hold" rating and upped their price target for the company from $5.00 to $6.00 in a report on Thursday. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

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.