News

Jul 01, 2023

Marks Group Wealth Management Inc Raises Stock Holdings in Hanesbrands Inc. (NYSE:HBI)

Marks Group Wealth Management Inc grew its stake in Hanesbrands Inc. (NYSE:HBI - Free Report) by 24.7% during the first quarter, according to the company in its most recent disclosure with the

Marks Group Wealth Management Inc grew its stake in Hanesbrands Inc. (NYSE:HBI - Free Report) by 24.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,102 shares of the textile maker's stock after purchasing an additional 30,088 shares during the period. Marks Group Wealth Management Inc's holdings in Hanesbrands were worth $800,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HBI. Millennium Management LLC increased its holdings in shares of Hanesbrands by 991.4% in the fourth quarter. Millennium Management LLC now owns 3,896,974 shares of the textile maker's stock valued at $24,785,000 after purchasing an additional 3,539,911 shares during the period. Cooke & Bieler LP grew its holdings in Hanesbrands by 12.4% during the fourth quarter. Cooke & Bieler LP now owns 23,252,129 shares of the textile maker's stock worth $147,884,000 after acquiring an additional 2,565,168 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Hanesbrands by 2,900.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,354,491 shares of the textile maker's stock worth $14,975,000 after acquiring an additional 2,276,017 shares during the period. Goldman Sachs Group Inc. grew its holdings in Hanesbrands by 176.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,175,319 shares of the textile maker's stock worth $47,281,000 after acquiring an additional 2,025,040 shares during the period. Finally, Norges Bank acquired a new position in Hanesbrands during the fourth quarter worth $12,663,000. Institutional investors and hedge funds own 88.35% of the company's stock.

Shares of NYSE:HBI traded up $0.08 on Friday, hitting $5.19. The company had a trading volume of 5,571,377 shares, compared to its average volume of 10,596,979. The company has a current ratio of 1.72, a quick ratio of 0.60 and a debt-to-equity ratio of 10.57. Hanesbrands Inc. has a 52-week low of $3.85 and a 52-week high of $11.77. The business has a 50 day moving average of $4.55 and a 200 day moving average of $5.28. The company has a market cap of $1.81 billion, a PE ratio of -6.48 and a beta of 1.61.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The textile maker reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Hanesbrands had a positive return on equity of 38.23% and a negative net margin of 4.64%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business earned $0.34 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the company. Barclays dropped their price objective on Hanesbrands from $6.00 to $5.00 in a report on Thursday, May 4th. SpectralCast reaffirmed a "maintains" rating on shares of Hanesbrands in a report on Friday, April 28th. Stifel Nicolaus dropped their price objective on Hanesbrands from $7.00 to $6.00 in a report on Thursday, May 4th. Finally, StockNews.com started coverage on Hanesbrands in a research report on Thursday, May 18th. They set a "sell" rating on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.88.

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.

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