MQS Management LLC Invests $592,000 in Gildan Activewear, Inc. (NYSE:GIL)

MQS Management LLC bought a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,389 shares of the textile maker's stock, valued at approximately $592,000.

Several other hedge funds have also recently added to or reduced their stakes in GIL. Norges Bank acquired a new position in shares of Gildan Activewear during the 4th quarter valued at $97,275,000. The Manufacturers Life Insurance Company increased its position 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 valued at $83,394,000 after purchasing an additional 1,300,121 shares during the period. Arrowstreet Capital Limited Partnership increased 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 purchasing an additional 723,962 shares during the period. Genus Capital Management Inc. increased its position in shares of Gildan Activewear by 191.7% during the 1st quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after purchasing an additional 525,386 shares during the period. Finally, Millennium Management LLC increased its position in shares of Gildan Activewear by 5,996.0% during the 4th quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock valued at $21,935,000 after purchasing an additional 458,692 shares during the period. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Up 0.1%

Shares of GIL stock traded up $0.07 on Monday, reaching $51.12. 114,668 shares of the company's stock traded hands, compared to its average volume of 654,171. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $55.39. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91. The company has a market capitalization of $7.66 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.64 and a beta of 1.19. The business's 50 day moving average price is $48.54 and its two-hundred day moving average price is $47.80.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The business had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. Gildan Activewear's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were paid a $0.226 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.77%. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GIL shares. Scotiabank upgraded Gildan Activewear to a "strong-buy" rating and set a $55.00 price target on the stock in a research report on Wednesday, May 28th. TD Securities lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. CIBC decreased their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Barclays initiated coverage on Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Gildan Activewear presently has a consensus rating of "Buy" and an average price target of $57.91.

About Gildan Activewear

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.