Envestnet Portfolio Solutions Inc. Has $971,000 Stake in Gildan Activewear, Inc. (NYSE:GIL)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 25.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,959 shares of the textile maker's stock after selling 7,687 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Gildan Activewear were worth $971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Gildan Activewear during the 4th quarter worth $97,275,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after purchasing an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company lifted 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 worth $83,394,000 after purchasing an additional 1,300,121 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in 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. Finally, Bahl & Gaynor Inc. boosted its stake in Gildan Activewear by 192.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker's stock valued at $34,918,000 after purchasing an additional 488,602 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIL has been the subject of a number of research analyst reports. Scotiabank upgraded Gildan Activewear to a "strong-buy" rating and set a $55.00 price target for the company in a report on Wednesday, May 28th. CIBC cut their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. TD Securities increased their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays initiated coverage on shares of 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 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.com, the stock currently has an average rating of "Buy" and a consensus price target of $57.91.

Gildan Activewear Price Performance

Shares of NYSE:GIL traded down $0.93 on Wednesday, hitting $46.82. The stock had a trading volume of 317,191 shares, compared to its average volume of 628,437. The firm's 50 day moving average price is $46.72 and its 200-day moving average price is $47.60. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91. Gildan Activewear, Inc. has a twelve month low of $36.91 and a twelve month high of $55.39. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20.

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, beating analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. On average, equities research analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, May 20th. 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.