Aigen Investment Management LP Has $1.17 Million Stake in Gildan Activewear, Inc. (NYSE:GIL)

Key Points

• Aigen Investment Management LP significantly increased its stake in Gildan Activewear by 243.7%, owning 26,356 shares valued at $1,165,000 as of its latest SEC filing.
• Analysts have generally positive sentiments towards Gildan Activewear, with several institutions raising their price targets; Barclays set it at $56.00 and National Bankshares at $80.00.
• Gildan Activewear has declared a quarterly dividend of $0.226 per share, leading to an annualized yield of 1.8%.

Aigen Investment Management LP raised its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 243.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,356 shares of the textile maker's stock after acquiring an additional 18,688 shares during the period. Aigen Investment Management LP's holdings in Gildan Activewear were worth $1,165,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GIL. Janus Henderson Group PLC boosted its stake in shares of Gildan Activewear by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock valued at $327,950,000 after buying an additional 128,674 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Gildan Activewear by 2.1% in the first quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker's stock valued at $121,073,000 after buying an additional 56,400 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Gildan Activewear by 276.9% in 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 buying an additional 1,300,121 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Gildan Activewear by 28.7% in the first quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker's stock valued at $70,240,000 after buying an additional 354,201 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Gildan Activewear by 15.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker's stock valued at $71,660,000 after buying an additional 206,569 shares during the period. Institutional investors own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

GIL has been the subject of several recent research reports. Cfra Research upgraded Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. National Bankshares boosted their price objective on shares of Gildan Activewear from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Barclays boosted their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. CIBC boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Finally, Scotiabank boosted their price objective on shares of Gildan Activewear from $55.00 to $59.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Gildan Activewear has a consensus rating of "Moderate Buy" and a consensus price target of $62.33.

Gildan Activewear Price Performance

Shares of NYSE:GIL traded down $1.83 during trading on Tuesday, hitting $49.11. 2,705,707 shares of the company were exchanged, compared to its average volume of 562,102. The business's 50 day moving average is $49.99 and its 200-day moving average is $48.31. The company has a market capitalization of $7.33 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The business had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%. Gildan Activewear's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. Equities analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be issued a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio is presently 28.57%.

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.