Gildan Activewear Inc. (NYSE:GIL) Stake Decreased by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. cut its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,605,480 shares of the textile maker's stock after selling 536,950 shares during the period. Gildan Activewear accounts for about 3.2% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 17th largest holding. Turtle Creek Asset Management Inc. owned approximately 1.71% of Gildan Activewear worth $122,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new stake in Gildan Activewear during the fourth quarter worth about $28,000. Fifth Third Bancorp lifted its holdings in Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after buying an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Gildan Activewear by 899.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock valued at $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock worth $67,000 after acquiring an additional 1,208 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Up 0.6%

NYSE:GIL traded up $0.29 during trading hours on Friday, reaching $49.21. 173,388 shares of the company were exchanged, compared to its average volume of 639,829. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.76 and a beta of 1.21. The stock has a 50 day simple moving average of $44.49 and a 200 day simple moving average of $47.85. Gildan Activewear Inc. has a 52-week low of $35.43 and a 52-week high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its 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. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. During the same quarter last year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm 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 dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's payout ratio is 34.75%.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of analyst reports. CIBC dropped their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Citigroup upped their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group boosted their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group lifted their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, TD Securities upped their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Gildan Activewear presently has an average rating of "Buy" and a consensus target price of $58.20.

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.