MetLife Investment Management LLC Increases Holdings in Hanesbrands Inc. $HBI

Key Points

• MetLife Investment Management LLC significantly increased its investment in Hanesbrands Inc. by 1,008.9%, acquiring over 2 million additional shares during the first quarter, bringing its total stake to about $13.49 million.
• Hanesbrands recently reported earnings per share of $0.24 for the last quarter, exceeding analysts' expectations, despite a slight year-over-year revenue decline of 0.4%.
• Several analysts have upgraded their ratings for Hanesbrands, with Wall Street Zen raising it to "strong-buy" and UBS Group increasing the target price from $8.00 to $9.00, reflecting positive sentiment in the market.

MetLife Investment Management LLC raised its holdings in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 1,008.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,337,148 shares of the textile maker's stock after buying an additional 2,126,376 shares during the quarter. MetLife Investment Management LLC owned about 0.66% of Hanesbrands worth $13,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in Hanesbrands by 4.3% during the fourth quarter. NewEdge Advisors LLC now owns 46,806 shares of the textile maker's stock worth $381,000 after buying an additional 1,944 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Hanesbrands by 9.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 26,288 shares of the textile maker's stock worth $152,000 after buying an additional 2,255 shares in the last quarter. Fifth Third Bancorp grew its position in Hanesbrands by 37.8% during the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker's stock worth $48,000 after buying an additional 2,267 shares in the last quarter. Balanced Rock Investment Advisors LLC grew its position in Hanesbrands by 6.0% during the first quarter. Balanced Rock Investment Advisors LLC now owns 50,270 shares of the textile maker's stock worth $290,000 after buying an additional 2,826 shares in the last quarter. Finally, Corton Capital Inc. grew its position in Hanesbrands by 23.4% during the fourth quarter. Corton Capital Inc. now owns 16,626 shares of the textile maker's stock worth $135,000 after buying an additional 3,151 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Hanesbrands Price Performance

HBI stock traded down $0.03 during mid-day trading on Friday, hitting $6.31. 4,226,604 shares of the stock were exchanged, compared to its average volume of 15,173,549. The company has a debt-to-equity ratio of 13.62, a current ratio of 1.52 and a quick ratio of 0.74. The business has a fifty day moving average price of $5.03 and a 200 day moving average price of $5.17. Hanesbrands Inc. has a 12 month low of $3.96 and a 12 month high of $9.10. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 26.27 and a beta of 1.40.

Hanesbrands (NYSE:HBI - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. Hanesbrands had a return on equity of 226.31% and a net margin of 2.49%.The company had revenue of $991.33 million during the quarter, compared to analyst estimates of $971.93 million. During the same quarter in the previous year, the company posted $0.15 EPS. Hanesbrands's revenue for the quarter was down .4% on a year-over-year basis. Hanesbrands has set its Q3 2025 guidance at 0.160-0.160 EPS. FY 2025 guidance at 0.660-0.660 EPS. On average, sell-side analysts anticipate that Hanesbrands Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on HBI. Wells Fargo & Company upgraded Hanesbrands from a "strong sell" rating to an "equal weight" rating and boosted their target price for the stock from $5.00 to $6.00 in a research report on Thursday, August 14th. Barclays set a $6.00 price target on Hanesbrands and gave the stock an "equal weight" rating in a research note 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 note on Friday, August 8th. Finally, Wall Street Zen raised Hanesbrands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Hanesbrands currently has a consensus rating of "Hold" and a consensus price target of $6.50.

Hanesbrands Company 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.