Massachusetts Financial Services Co. MA Has $32.73 Million Holdings in Gildan Activewear, Inc. (NYSE:GIL)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 740,205 shares of the textile maker's stock after selling 71,864 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.49% of Gildan Activewear worth $32,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GIL. Norges Bank purchased a new position in shares of Gildan Activewear during the 4th quarter valued at approximately $97,275,000. The Manufacturers Life Insurance Company raised 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 valued at $83,394,000 after acquiring an additional 1,300,121 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of 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 acquiring an additional 723,962 shares in the last quarter. Genus Capital Management Inc. raised its position in shares of Gildan Activewear by 191.7% during the 1st quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after acquiring an additional 525,386 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Gildan Activewear by 5,996.0% during the 4th quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock valued at $21,935,000 after acquiring an additional 458,692 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

Shares of GIL traded down $0.76 during trading hours on Friday, reaching $52.40. 415,776 shares of the company's stock traded hands, compared to its average volume of 633,595. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.71 and a beta of 1.19. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $55.39. The business's fifty day simple moving average is $48.86 and its two-hundred day simple moving average is $47.91.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The business had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. During the same quarter last year, the company posted $0.59 EPS. Gildan Activewear's revenue for the quarter was up 2.3% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were given a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 34.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GIL shares. TD Securities upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Barclays started coverage on Gildan Activewear in a research report on Monday, April 28th. They set an "overweight" rating and a $51.00 price target on the stock. Scotiabank raised Gildan Activewear to a "strong-buy" rating and set a $55.00 price target on the stock in a research report on Wednesday, May 28th. Finally, CIBC dropped their price target on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $57.91.

Gildan Activewear 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.