Sound Income Strategies LLC Increases Holdings in Hanesbrands Inc. (NYSE:HBI)

Sound Income Strategies LLC raised its stake in shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 833,676 shares of the textile maker’s stock after buying an additional 71,066 shares during the quarter. Sound Income Strategies LLC’s holdings in Hanesbrands were worth $5,302,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HBI. Goldman Sachs Group Inc. increased its holdings in shares of Hanesbrands by 176.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,175,319 shares of the textile maker’s stock worth $47,281,000 after purchasing an additional 2,025,040 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Hanesbrands in the 4th quarter worth $8,872,000. Shapiro Capital Management LLC increased its holdings in shares of Hanesbrands by 9.8% in the 1st quarter. Shapiro Capital Management LLC now owns 15,351,432 shares of the textile maker’s stock worth $228,583,000 after purchasing an additional 1,371,689 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Hanesbrands by 2.7% in the 1st quarter. BlackRock Inc. now owns 37,582,047 shares of the textile maker’s stock worth $559,599,000 after purchasing an additional 997,840 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Hanesbrands in the 2nd quarter worth $9,015,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays lifted their price objective on Hanesbrands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, January 13th. Credit Suisse Group cut their price objective on Hanesbrands from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 3rd. Citigroup cut their price objective on Hanesbrands from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, February 3rd. StockNews.com assumed coverage on Hanesbrands in a report on Thursday. They issued a “sell” rating for the company. Finally, TheStreet lowered Hanesbrands from a “c” rating to a “d+” rating in a report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.00.

Hanesbrands Stock Performance

NYSE HBI traded down $0.09 on Friday, hitting $5.09. 80,322,123 shares of the company traded hands, compared to its average volume of 14,177,585. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -14.14 and a beta of 1.60. The company has a current ratio of 1.75, a quick ratio of 0.64 and a debt-to-equity ratio of 9.07. The business’s 50 day moving average price is $6.50 and its 200-day moving average price is $6.98. Hanesbrands Inc. has a 52-week low of $4.93 and a 52-week high of $15.75.

Hanesbrands (NYSE:HBI – Get Rating) last released its earnings results on Thursday, February 2nd. The textile maker reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Hanesbrands had a negative net margin of 2.04% and a positive return on equity of 53.41%. Hanesbrands’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Equities analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

About Hanesbrands

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Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.