Achmea Investment Management B.V. Buys 58,830 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Achmea Investment Management B.V. increased its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 308.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,896 shares of the textile maker's stock after purchasing an additional 58,830 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.05% of Gildan Activewear worth $3,444,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GIL. Norges Bank bought a new position in Gildan Activewear in the 4th quarter worth $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Gildan Activewear by 604.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after acquiring an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock valued at $83,394,000 after acquiring an additional 1,300,121 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Gildan Activewear by 776.4% during the fourth 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 period. Finally, Bahl & Gaynor Inc. raised its holdings in Gildan Activewear by 192.7% during the fourth quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker's stock valued at $34,918,000 after acquiring an additional 488,602 shares during the period. 82.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Gildan Activewear Trading Up 0.9%

GIL opened at $48.81 on Friday. The firm has a market cap of $7.35 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.20. Gildan Activewear, Inc. has a 12 month low of $37.16 and a 12 month high of $55.39. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average of $47.14 and a 200 day moving average of $47.59.

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

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a $0.226 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.85%. Gildan Activewear's dividend payout ratio is currently 34.75%.

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.

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