Partnership Wealth Management LLC Invests $62,000 in Hanesbrands Inc. (NYSE:HBI)

Partnership Wealth Management LLC purchased a new position in Hanesbrands Inc. (NYSE:HBI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,677 shares of the textile maker’s stock, valued at approximately $62,000.

A number of other hedge funds have also recently made changes to their positions in HBI. Nisa Investment Advisors LLC grew its holdings in shares of Hanesbrands by 6.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 45,876 shares of the textile maker’s stock worth $373,000 after purchasing an additional 2,952 shares during the last quarter. KBC Group NV grew its holdings in shares of Hanesbrands by 38.1% in the fourth quarter. KBC Group NV now owns 15,701 shares of the textile maker’s stock worth $128,000 after purchasing an additional 4,332 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of Hanesbrands by 28.1% in the fourth quarter. OLD National Bancorp IN now owns 34,507 shares of the textile maker’s stock worth $281,000 after purchasing an additional 7,569 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of Hanesbrands in the fourth quarter worth about $46,000. Finally, Choreo LLC grew its holdings in shares of Hanesbrands by 105.7% in the fourth quarter. Choreo LLC now owns 43,125 shares of the textile maker’s stock worth $350,000 after purchasing an additional 22,160 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on HBI. Wells Fargo & Company upped their price objective on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their price objective on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. UBS Group upped their price objective on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Barclays set a $6.00 price objective on shares of Hanesbrands and gave the stock an “equal weight” rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Hanesbrands has an average rating of “Hold” and an average price target of $5.60.

Hanesbrands Stock Performance

HBI stock opened at $4.99 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -5.42 and a beta of 1.50. The firm has a 50-day simple moving average of $4.96 and a two-hundred day simple moving average of $6.70. Hanesbrands Inc. has a one year low of $4.02 and a one year high of $9.10. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37.

Hanesbrands (NYSE:HBI) 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. The business had revenue of $760.15 million during the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

About Hanesbrands

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.