Cooke & Bieler LP Increases Stake in Hanesbrands Inc Stock
Cooke & Bieler LP raised its stake in Hanesbrands Inc (NYSE:HBI) stock by 2.1% during the second quarter. According to the latest Form 13F filing with the Securities and Exchange Commission, the fund now owns 16,329,763 shares. This represents an additional 342,056 shares acquired during the period. As of the most recent filing, Cooke & Bieler LP holds approximately 4.64% of Hanesbrands, valued at $80,506,000.
Hanesbrands Inc Stock: Other Institutional Movements
Several other institutional investors have also adjusted their positions in Hanesbrands Inc stock. International Assets Investment Management LLC increased its stake by 6.4% during the fourth quarter. This fund now owns 110,030 shares, worth $491,000, following the purchase of an additional 6,600 shares.
Kestra Private Wealth Services LLC significantly raised its holdings by 46.4% during the fourth quarter. The firm now owns 29,598 shares valued at $132,000 after acquiring 9,385 additional shares.
Victory Capital Management Inc. boosted its position by 13.9% in the fourth quarter. This investment firm now holds 70,684 shares worth $315,000 after buying an additional 8,605 shares.
First Trust Direct Indexing L.P. entered a new stake during the fourth quarter, worth approximately $48,000. Meanwhile, Charles Schwab Investment Management Inc. increased its holdings by 4.5%, owning 4,040,749 shares valued at $18,022,000 after acquiring an additional 174,055 shares.
Overall, hedge funds and institutional investors own 80.31% of Hanesbrands’ stock.
Hanesbrands Inc Stock Performance
Hanesbrands Inc. currently trades at $6.33, up $0.01 or 0.08%.
The company has a market cap of $2.23 billion and revenue of $5.49 billion (ttm). The net income stands at $298.36 million, with 351.68 million shares outstanding. The earnings per share (EPS) is $0.85, and the pricetoearnings (P/E) ratio is not applicable. The forward P/E ratio is 12.80. No dividend is currently offered. The stock’s 52week range is between $3.54 and $6.77, with a beta of 1.57. The volume traded today is 1,872,645 shares, with a day’s range from $6.23 to $6.38. The last earnings report was on August 8, 2024.
Analyst Ratings and Price Targets
Recent reports from equities research analysts provide mixed views on Hanesbrands. Wedbush maintained a “neutral” rating with a price target of $5.00 on June 6th.
UBS Group increased its target price from $5.00 to $6.50, while maintaining a “neutral” rating on August 27th. Barclays also raised its target from $5.00 to $6.00 and assigned an “equal weight” rating on August 12th. Stifel Nicolaus upped its target price from $4.50 to $6.00, giving a “hold” rating on August 12th.
Currently, six investment analysts rate the stock as a hold. MarketBeat data indicates an average rating of “Hold” and a consensus target price of $5.80.
The increase in institutional investment in Hanesbrands reflects a strategic move by major investors amidst market fluctuations. As analysts adjust their price targets and ratings, Hanesbrands remains under close scrutiny. Investors should keep an eye on further institutional movements and analyst updates to gauge the company’s future performance.
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