Hennessy Advisors Inc. Invests $62.20 Million in Hanesbrands Inc. (NYSE:HBI)

Hennessy Advisors Inc. acquired a new position in Hanesbrands Inc. (NYSE:HBI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,641,100 shares of the textile maker’s stock, valued at approximately $62,199,000. Hanesbrands makes up about 1.9% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 8th biggest position.

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after acquiring an additional 1,895 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Hanesbrands by 484.0% in the third quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock valued at $15,757,000 after buying an additional 1,776,690 shares during the period. Tidal Investments LLC acquired a new stake in shares of Hanesbrands in the third quarter valued at approximately $1,021,000. Optimist Retirement Group LLC bought a new position in shares of Hanesbrands during the 3rd quarter worth approximately $256,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Hanesbrands during the 3rd quarter worth approximately $130,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Price Performance

NYSE HBI opened at $8.31 on Friday. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. Hanesbrands Inc. has a fifty-two week low of $3.88 and a fifty-two week high of $9.10. The business has a fifty day moving average price of $8.36 and a two-hundred day moving average price of $7.05.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The firm had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Hanesbrands Inc. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Hanesbrands currently has an average rating of “Hold” and an average target price 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.