Ridgewood Investments LLC boosted its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 13.1% in the 1st quarter, Holdings Channel reports. The fund owned 20,536 shares of the textile maker’s stock after buying an additional 2,379 shares during the quarter. Ridgewood Investments LLC’s holdings in Hanesbrands were worth $367,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new position in shares of Hanesbrands during the fourth quarter worth $36,000. Atlas Capital Advisors LLC acquired a new position in Hanesbrands in the 4th quarter valued at about $39,000. Oregon Public Employees Retirement Fund increased its position in Hanesbrands by 1,137.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 489,071 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 449,555 shares during the period. Clean Yield Group purchased a new stake in Hanesbrands in the 4th quarter valued at approximately $55,000. Finally, Truehand Inc purchased a new stake in Hanesbrands in the 4th quarter valued at approximately $63,000. 97.01% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Barclays set a $19.00 price target on Hanesbrands and gave the company a “hold” rating in a report on Saturday, February 9th. ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Deutsche Bank downgraded Hanesbrands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $24.00 to $16.00 in a report on Friday, January 11th. Finally, Wells Fargo & Co dropped their price objective on Hanesbrands from $18.00 to $14.00 and set a “market perform” rating for the company in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.53.
Shares of Hanesbrands stock traded down $0.04 during midday trading on Monday, reaching $18.52. 268,705 shares of the company’s stock traded hands, compared to its average volume of 4,433,649. The company has a market capitalization of $6.68 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.04 and a beta of 0.94. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 3.64. Hanesbrands Inc. has a 52 week low of $11.57 and a 52 week high of $22.57.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 7th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. Hanesbrands had a net margin of 8.13% and a return on equity of 76.43%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts predict that Hanesbrands Inc. will post 1.75 earnings per share for the current year.
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Hanesbrands Company Profile
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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