Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. cut its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 17.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,605,480 shares of the textile maker's stock after selling 536,950 shares during the period. Gildan Activewear accounts for approximately 3.2% of Turtle Creek Asset Management Inc.'s holdings, making the stock its 17th biggest holding. Turtle Creek Asset Management Inc. owned approximately 1.71% of Gildan Activewear worth $122,588,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GIL. Forge First Asset Management Inc. grew its position in Gildan Activewear by 108.0% during the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock valued at $2,191,000 after acquiring an additional 24,200 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. Truist Financial Corp increased its position in Gildan Activewear by 76.8% during the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock worth $913,000 after purchasing an additional 8,430 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gildan Activewear by 80.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker's stock valued at $11,568,000 after buying an additional 109,993 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position 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 buying an additional 723,962 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Up 0.2%

Shares of GIL traded up $0.08 during trading on Tuesday, reaching $50.19. The company's stock had a trading volume of 737,312 shares, compared to its average volume of 657,157. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 1.76 and a beta of 1.21. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average of $44.40 and a two-hundred day moving average of $47.84. Gildan Activewear Inc. has a twelve month low of $35.39 and a twelve month high of $55.39.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, sell-side analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's payout ratio is currently 34.75%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GIL shares. Citigroup lifted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets upped their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. CIBC dropped 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. Barclays assumed coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $58.20.

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.