Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Makes New Investment in Hanesbrands Inc. $HBI

by · The Cerbat Gem

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Hanesbrands Inc. (NYSE:HBI – Free Report) in the third quarter, Holdings Channel reports. The fund acquired 95,000 shares of the textile maker’s stock, valued at approximately $655,000.

Several other hedge funds also recently made changes to their positions in HBI. First Horizon Advisors Inc. boosted its stake in shares of Hanesbrands by 240.7% in the second quarter. First Horizon Advisors Inc. now owns 6,613 shares of the textile maker’s stock valued at $30,000 after buying an additional 4,672 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Hanesbrands by 155.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,904 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 2,982 shares in the last quarter. Strs Ohio bought a new stake in shares of Hanesbrands during the 1st quarter valued at $38,000. Olympiad Research LP bought a new stake in shares of Hanesbrands during the 2nd quarter valued at $63,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Hanesbrands during the 2nd quarter worth $64,000. 80.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on HBI. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hanesbrands in a research note on Wednesday, October 8th. Citigroup boosted their target price on shares of Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $6.60.

Read Our Latest Analysis on Hanesbrands

Hanesbrands Stock Performance

NYSE:HBI opened at $6.65 on Tuesday. Hanesbrands Inc. has a twelve month low of $3.96 and a twelve month high of $8.98. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 4.94. The stock’s 50-day simple moving average is $6.60 and its 200 day simple moving average is $6.11. The firm has a market capitalization of $2.35 billion, a PE ratio of 7.23 and a beta of 1.50.

Hanesbrands (NYSE:HBI – Get Free Report) last posted its earnings results on Thursday, November 6th. The textile maker reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Hanesbrands had a return on equity of 129.43% and a net margin of 9.34%.The company had revenue of $891.68 million during the quarter, compared to the consensus estimate of $905.37 million. During the same period last year, the company posted $0.15 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

About Hanesbrands

(Free Report)

Hanesbrands Inc is a leading global apparel company specializing in everyday basics and activewear. The company’s product portfolio encompasses underwear, bras, socks, hosiery, T-shirts, and performance apparel under well-known brands such as Hanes, Champion, Playtex, DIM, Maidenform, and Bonds. Through a combination of trusted brand equity and a focus on comfort, fit, and quality, Hanesbrands serves a broad consumer base across multiple demographic segments.

Established in 2006 following its spin-off from the Sara Lee Corporation, Hanesbrands has grown through strategic acquisitions and organic expansion.

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