Verition Fund Management LLC Takes Position in Hanesbrands Inc. (NYSE:HBI)

Verition Fund Management LLC purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) during the third quarter, Holdings Channel reports. The institutional investor purchased 986,207 shares of the textile maker’s stock, valued at approximately $7,249,000.

A number of other hedge funds have also bought and sold shares of the business. Blue Trust Inc. increased its position in shares of Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 1,594 shares during the last quarter. Alpha Omega Wealth Management LLC raised its position in Hanesbrands by 1.3% in the second quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker’s stock worth $778,000 after acquiring an additional 2,072 shares during the period. Arizona State Retirement System grew its position in shares of Hanesbrands by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker’s stock valued at $485,000 after acquiring an additional 2,221 shares during the period. Evergreen Capital Management LLC grew its position in shares of Hanesbrands by 6.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock valued at $185,000 after acquiring an additional 2,316 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Hanesbrands by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker’s stock worth $872,000 after purchasing an additional 3,500 shares during the period. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Stock Performance

Shares of HBI opened at $8.70 on Monday. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -13.18 and a beta of 1.58. Hanesbrands Inc. has a 52-week low of $3.58 and a 52-week high of $9.10. The stock’s 50-day simple moving average is $7.55 and its 200 day simple moving average is $6.27.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. Hanesbrands’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. Research analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays lifted their price objective on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus increased their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.90.

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.