Taika Capital LP Takes $1.05 Million Position in Hanesbrands Inc. (NYSE:HBI)

Taika Capital LP bought a new stake in Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 129,484 shares of the textile maker’s stock, valued at approximately $1,054,000.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Hanesbrands by 1.1% in the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock valued at $58,183,000 after purchasing an additional 89,367 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Hanesbrands in the fourth quarter valued at $62,199,000. Allianz Asset Management GmbH lifted its position in Hanesbrands by 3.7% in the 4th quarter. Allianz Asset Management GmbH now owns 5,283,917 shares of the textile maker’s stock worth $43,011,000 after buying an additional 189,397 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hanesbrands by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,382,574 shares of the textile maker’s stock worth $32,212,000 after buying an additional 11,074 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Hanesbrands by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,559,231 shares of the textile maker’s stock worth $20,832,000 after buying an additional 15,727 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Insiders Place Their Bets

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now directly owns 216,373 shares in the company, valued at approximately $1,300,401.73. This represents a 52.89 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Hanesbrands Price Performance

Shares of HBI opened at $5.92 on Monday. The firm has a market cap of $2.09 billion, a PE ratio of -6.43 and a beta of 1.75. The firm’s 50 day moving average price is $7.46 and its 200 day moving average price is $7.47. 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 Inc. has a twelve month low of $4.40 and a twelve month high of $9.10.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The business had revenue of $888.47 million for the quarter, compared to the consensus estimate of $899.30 million. As a group, research analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays increased their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.10.

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.