Mission Wealth Management LP Increases Stock Position in Hanesbrands Inc. (NYSE:HBI)

Mission Wealth Management LP grew its stake in Hanesbrands Inc. (NYSE:HBI) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 98,577 shares of the textile maker’s stock after acquiring an additional 10,927 shares during the period. Mission Wealth Management LP’s holdings in Hanesbrands were worth $440,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HBI. Diamond Hill Capital Management Inc. raised its position in Hanesbrands by 4.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,437,284 shares of the textile maker’s stock valued at $17,572,000 after purchasing an additional 169,552 shares during the period. Brandes Investment Partners LP boosted its holdings in Hanesbrands by 21.7% during the 3rd quarter. Brandes Investment Partners LP now owns 3,874,803 shares of the textile maker’s stock valued at $15,344,000 after acquiring an additional 691,149 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Hanesbrands by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,866,694 shares of the textile maker’s stock worth $15,312,000 after purchasing an additional 209,214 shares during the period. KLCM Advisors Inc. lifted its position in shares of Hanesbrands by 7.2% during the third quarter. KLCM Advisors Inc. now owns 2,315,939 shares of the textile maker’s stock worth $9,171,000 after purchasing an additional 155,740 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its position in shares of Hanesbrands by 0.4% during the third quarter. Morningstar Investment Services LLC now owns 2,221,687 shares of the textile maker’s stock worth $8,798,000 after purchasing an additional 9,443 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on HBI. Wedbush upped their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Citigroup upped their price objective on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd.

Hanesbrands Stock Performance

Shares of Hanesbrands stock opened at $4.43 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.65 and a debt-to-equity ratio of 7.72. Hanesbrands Inc. has a 52-week low of $3.54 and a 52-week high of $5.86. The company has a 50 day moving average of $5.12 and a 200 day moving average of $4.54.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, February 15th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. Hanesbrands’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. On average, research analysts predict that Hanesbrands Inc. will post 0.44 EPS for the current fiscal 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.