D. E. Shaw & Co. Inc. Sells 158,000 Shares of Gildan Activewear Inc. (NYSE:GIL)

D. E. Shaw & Co. Inc. lowered its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,477 shares of the textile maker's stock after selling 158,000 shares during the period. D. E. Shaw & Co. Inc. owned 0.18% of Gildan Activewear worth $13,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Gildan Activewear in the fourth quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Gildan Activewear by 604.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after acquiring an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after acquiring an additional 1,022,695 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after acquiring an additional 723,962 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $49.14 on Wednesday. Gildan Activewear Inc. has a 12-month low of $34.20 and a 12-month high of $55.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $44.25 and a 200-day moving average price of $47.81. The firm has a market capitalization of $7.45 billion, a PE ratio of 19.66, 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 quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's payout ratio is currently 34.75%.

Wall Street Analysts Forecast Growth

GIL has been the topic of several research reports. TD Securities boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Citigroup lifted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets upped their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Stifel Nicolaus increased their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Barclays started coverage on Gildan Activewear in a research report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price target for the company. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $58.20.

Gildan Activewear 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.

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