Petros Family Wealth LLC Acquires 4,009 Shares of Hanesbrands Inc. (NYSE:HBI)

Petros Family Wealth LLC boosted its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 35.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,427 shares of the textile maker’s stock after acquiring an additional 4,009 shares during the quarter. Petros Family Wealth LLC’s holdings in Hanesbrands were worth $89,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in shares of Hanesbrands by 2.2% during the fourth quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker’s stock valued at $498,000 after purchasing an additional 1,277 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Hanesbrands by 4.3% during the 4th quarter. NewEdge Advisors LLC now owns 46,806 shares of the textile maker’s stock worth $381,000 after buying an additional 1,944 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Hanesbrands by 5.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 36,964 shares of the textile maker’s stock worth $301,000 after buying an additional 1,973 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Hanesbrands by 9.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 26,288 shares of the textile maker’s stock valued at $152,000 after buying an additional 2,255 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Hanesbrands by 37.8% in the 1st quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker’s stock valued at $48,000 after buying an additional 2,267 shares during the period. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Stock Up 1.1%

Shares of NYSE HBI opened at $4.48 on Tuesday. Hanesbrands Inc. has a 52-week low of $4.02 and a 52-week high of $9.10. The company has a debt-to-equity ratio of 53.45, a quick ratio of 0.67 and a current ratio of 1.55. The stock has a market cap of $1.58 billion, a P/E ratio of -5.33 and a beta of 1.52. The firm has a 50 day moving average price of $4.84 and a 200 day moving average price of $6.24.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $760.15 million for the quarter, compared to analysts’ expectations of $757.42 million. Hanesbrands had a negative net margin of 8.12% and a positive return on equity of 262.15%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, May 14th. Stifel Nicolaus reduced their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research note 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. Barclays set a $6.00 price objective on shares of Hanesbrands and gave the company an “equal weight” rating in a report on Tuesday, May 20th. Finally, UBS Group lifted their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.75.

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.