Cubist Systematic Strategies LLC Takes $4.62 Million Position in Gildan Activewear Inc. (NYSE:GIL)

Cubist Systematic Strategies LLC acquired a new position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 98,115 shares of the textile maker's stock, valued at approximately $4,616,000. Cubist Systematic Strategies LLC owned approximately 0.06% of Gildan Activewear at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Forge First Asset Management Inc. raised its holdings in shares of Gildan Activewear by 108.0% during the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock worth $2,191,000 after purchasing an additional 24,200 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. Truist Financial Corp raised its holdings in shares of Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock worth $913,000 after purchasing an additional 8,430 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Gildan Activewear by 80.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker's stock worth $11,568,000 after purchasing an additional 109,993 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Gildan Activewear by 776.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock worth $38,414,000 after purchasing an additional 723,962 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock traded up $0.00 on Thursday, reaching $49.09. The stock had a trading volume of 261,739 shares, compared to its average volume of 653,272. The business's 50-day moving average price is $44.24 and its two-hundred day moving average price is $47.82. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. Gildan Activewear Inc. has a fifty-two week low of $34.50 and a fifty-two week high of $55.39. The stock has a market cap of $7.44 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, sell-side analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be paid a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.84%. Gildan Activewear's dividend payout ratio is presently 34.75%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GIL shares. TD Securities increased their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Stifel Nicolaus increased their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Barclays assumed coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $58.20.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.