Norges Bank acquired a new position in Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,143,626 shares of the textile maker’s stock, valued at approximately $39,389,000. Norges Bank owned 0.87% of Hanesbrands as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Comerica Bank grew its position in shares of Hanesbrands by 0.9% during the 4th quarter. Comerica Bank now owns 72,967 shares of the textile maker’s stock worth $1,111,000 after buying an additional 673 shares during the period. Hartford Investment Management Co. grew its position in shares of Hanesbrands by 1.1% during the 4th quarter. Hartford Investment Management Co. now owns 62,904 shares of the textile maker’s stock worth $788,000 after buying an additional 698 shares during the period. Banced Corp grew its position in shares of Hanesbrands by 3.7% during the 4th quarter. Banced Corp now owns 21,075 shares of the textile maker’s stock worth $264,000 after buying an additional 759 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Hanesbrands by 0.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 233,350 shares of the textile maker’s stock worth $2,781,000 after buying an additional 825 shares during the period. Finally, NEXT Financial Group Inc grew its position in shares of Hanesbrands by 5.3% during the 4th quarter. NEXT Financial Group Inc now owns 17,740 shares of the textile maker’s stock worth $222,000 after buying an additional 890 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

NYSE:HBI opened at $18.52 on Monday. Hanesbrands Inc. has a fifty-two week low of $11.57 and a fifty-two week high of $22.57. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 3.64. The stock has a market cap of $6.62 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, February 7th. The textile maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Hanesbrands had a return on equity of 76.43% and a net margin of 8.13%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Hanesbrands’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts expect that Hanesbrands Inc. will post 1.75 EPS for the current fiscal year.

Several research firms have recently issued reports on HBI. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Barclays set a $16.00 target price on Hanesbrands and gave the stock a “hold” rating in a research report on Friday, January 11th. Wells Fargo & Co decreased their target price on Hanesbrands from $18.00 to $14.00 and set a “market perform” rating for the company in a research report on Wednesday, January 2nd. Deutsche Bank lowered Hanesbrands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $24.00 to $16.00 in a research report on Friday, January 11th. Finally, ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a research report on Friday, February 8th. 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 stock presently has an average rating of “Hold” and a consensus target price of $20.53.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by Daily Political and is owned by of Daily Political. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.dailypolitical.com/2019/04/15/3143626-shares-in-hanesbrands-inc-hbi-purchased-by-norges-bank.html.

About Hanesbrands

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.

Featured Story: Why is a lock-up period needed for an IPO?

Institutional Ownership by Quarter for Hanesbrands (NYSE:HBI)

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.