Wellington Management Group LLP Buys New Position in Hanesbrands Inc. (NYSE:HBI)

Wellington Management Group LLP acquired a new stake in Hanesbrands Inc. (NYSE:HBI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 973,160 shares of the textile maker's stock, valued at approximately $7,922,000. Wellington Management Group LLP owned about 0.28% of Hanesbrands at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HBI. KBC Group NV boosted its holdings in Hanesbrands by 38.1% in the 4th quarter. KBC Group NV now owns 15,701 shares of the textile maker's stock valued at $128,000 after purchasing an additional 4,332 shares in the last quarter. Choreo LLC boosted its stake in shares of Hanesbrands by 105.7% in the fourth quarter. Choreo LLC now owns 43,125 shares of the textile maker's stock valued at $350,000 after buying an additional 22,160 shares in the last quarter. Long Run Wealth Advisors LLC acquired a new position in Hanesbrands during the fourth quarter worth $127,000. Advisors Preferred LLC acquired a new position in Hanesbrands during the fourth quarter worth $593,000. Finally, Wilmington Savings Fund Society FSB raised its position in Hanesbrands by 31.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 23,250 shares of the textile maker's stock worth $189,000 after acquiring an additional 5,540 shares in the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on HBI. 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 research report on Wednesday, April 23rd. Stifel Nicolaus decreased their price objective 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 upgraded shares of Hanesbrands from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the company an "underweight" rating in a research report on Wednesday, May 14th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.60.

Hanesbrands Price Performance

NYSE:HBI traded up $0.10 during mid-day trading on Friday, hitting $4.95. 3,129,668 shares of the company's stock traded hands, compared to its average volume of 7,106,620. 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 company has a market cap of $1.75 billion, a PE ratio of -5.37 and a beta of 1.50. The firm's 50 day simple moving average is $4.86 and its 200 day simple moving average is $6.60. Hanesbrands Inc. has a 1 year low of $4.02 and a 1 year high of $9.10.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The business had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current year.

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.