Millennium Management LLC Acquires 458,692 Shares of Gildan Activewear Inc. (NYSE:GIL)

Millennium Management LLC increased its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 5,996.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 466,342 shares of the textile maker's stock after purchasing an additional 458,692 shares during the period. Millennium Management LLC owned 0.31% of Gildan Activewear worth $21,935,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Syon Capital LLC raised its position in shares of Gildan Activewear by 3.9% during the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock valued at $307,000 after purchasing an additional 242 shares during the period. Fifth Third Bancorp raised its position in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares during the period. Huntington National Bank raised its position in shares of Gildan Activewear by 16.4% during the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock valued at $132,000 after purchasing an additional 395 shares during the period. TD Private Client Wealth LLC raised its position in shares of Gildan Activewear by 19.1% during the 4th quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker's stock valued at $144,000 after purchasing an additional 492 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear during the 4th quarter valued at $28,000. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GIL has been the topic of several recent analyst reports. UBS Group raised their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Citigroup lifted their price target 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 lifted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, CIBC reduced their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $58.20.

Gildan Activewear Price Performance

Shares of NYSE:GIL traded up $0.07 on Friday, reaching $48.99. The company's stock had a trading volume of 437,720 shares, compared to its average volume of 641,626. Gildan Activewear Inc. has a 52-week low of $35.51 and a 52-week high of $55.39. The company has a market cap of $7.40 billion, a P/E ratio of 19.59, a PEG ratio of 1.76 and a beta of 1.21. The company has a 50-day simple moving average of $44.54 and a 200 day simple moving average of $47.84. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $715.29 million. During the same period last year, the company posted $0.59 EPS. The business's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.85%. Gildan Activewear's payout ratio is currently 34.75%.

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.