973,160 Shares in Hanesbrands Inc. (NYSE:HBI) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 973,160 shares of the textile maker’s stock, valued at approximately $7,922,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after acquiring an additional 2,712 shares during the last quarter. WFA Asset Management Corp purchased a new position in shares of Hanesbrands in the fourth quarter worth about $46,000. GAMMA Investing LLC increased its stake in shares of Hanesbrands by 39.7% in the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after purchasing an additional 1,895 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Hanesbrands by 459.2% during the 4th quarter. Allworth Financial LP now owns 8,220 shares of the textile maker’s stock valued at $69,000 after buying an additional 6,750 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Hanesbrands during the 3rd quarter valued at approximately $77,000. Institutional investors own 80.31% of the company’s stock.

Insiders Place Their Bets

In other Hanesbrands news, Director Robert F. Moran acquired 74,850 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $6.01 per share, with a total value of $449,848.50. Following the completion of the acquisition, the director now owns 216,373 shares of the company’s stock, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Thursday.

Hanesbrands Trading Down 8.3 %

Shares of HBI opened at $4.46 on Friday. Hanesbrands Inc. has a twelve month low of $4.02 and a twelve month high of $9.10. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. The stock has a market cap of $1.57 billion, a PE ratio of -4.84 and a beta of 1.55. The business’s 50-day moving average price is $6.01 and its 200-day moving average price is $7.29.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The firm had revenue of $888.47 million during the quarter, compared to analyst estimates of $899.30 million. On average, equities analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

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.