Amundi Has $14.94 Million Holdings in Gildan Activewear, Inc. $GIL

Key Points

• Amundi cut its Gildan Activewear position by 41.6% in the first quarter, selling 191,575 shares and retaining 268,480 shares valued at approximately $14.94 million. Institutional investors collectively own 82.83% of the company.
• Gildan reported quarterly earnings of $1.28 per share, beating analyst expectations of $1.11, while revenue rose 72.3% year over year to $1.58 billion, slightly below estimates.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $79.07 versus the stock’s reported $56.84 price. The company also announced a quarterly dividend of $0.249 per share, implying a 1.8% yield.

Amundi trimmed its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 41.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 268,480 shares of the textile maker's stock after selling 191,575 shares during the period. Amundi owned 0.14% of Gildan Activewear worth $14,941,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Gildan Activewear by 49.3% in the first quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker's stock valued at $584,000 after acquiring an additional 4,360 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker's stock valued at $77,838,000 after acquiring an additional 503,359 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Gildan Activewear by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker's stock worth $8,251,000 after acquiring an additional 4,714 shares during the period. Cetera Investment Advisers grew its holdings in Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker's stock worth $616,000 after acquiring an additional 259 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Gildan Activewear in the 2nd quarter worth about $317,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Up 3.0%

GIL stock opened at $56.84 on Wednesday. The stock's 50 day simple moving average is $54.34 and its 200 day simple moving average is $59.34. The company has a market cap of $10.53 billion, a P/E ratio of 109.31 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93. Gildan Activewear, Inc. has a fifty-two week low of $46.00 and a fifty-two week high of $73.69.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. Gildan Activewear's revenue for the quarter was up 72.3% on a year-over-year basis. On average, research analysts expect that Gildan Activewear, Inc. will post 4.65 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.249 per share. The ex-dividend date is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.8%. Gildan Activewear's dividend payout ratio is presently 192.31%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Scotiabank reissued a "sector outperform" rating and issued a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research note on Friday. TD Securities reiterated a "buy" rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Weiss Ratings lowered Gildan Activewear from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 18th. Royal Bank Of Canada restated an "outperform" rating and set a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a report on Friday. Finally, Zacks Research raised shares of Gildan Activewear from a "strong sell" rating to a "hold" rating in a research report on Friday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.07.

Gildan Activewear Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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