Sei Investments Co. Acquires 60,111 Shares of Gildan Activewear, Inc. $GIL

Key Points

• Sei Investments increased its Gildan Activewear stake by 25% in the first quarter, buying 60,111 additional shares to reach 300,633 shares valued at approximately $16.7 million. Institutional investors collectively own 82.83% of the company.
• Gildan reported quarterly EPS of $0.43, beating estimates of $0.36, while revenue rose 63.8% year over year to $1.17 billion. Analysts expect full-year EPS of $4.25.
• Analysts remain broadly positive, with 13 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $78.21 versus the stock’s recent $51.10 price.

Sei Investments Co. raised its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 25.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 300,633 shares of the textile maker's stock after purchasing an additional 60,111 shares during the period. Sei Investments Co. owned 0.16% of Gildan Activewear worth $16,730,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GIL. Assetmark Inc. increased its holdings in Gildan Activewear by 10,432.0% during the fourth quarter. Assetmark Inc. now owns 60,138 shares of the textile maker's stock valued at $3,756,000 after buying an additional 59,567 shares during the period. Barington Companies Management LLC purchased a new stake in Gildan Activewear during the fourth quarter worth $15,941,000. VELA Investment Management LLC purchased a new stake in Gildan Activewear during the fourth quarter worth $3,104,000. Triasima Portfolio Management inc. bought a new stake in Gildan Activewear during the 4th quarter valued at $4,353,000. Finally, Willis Investment Counsel increased its holdings in shares of Gildan Activewear by 48.5% in the 4th quarter. Willis Investment Counsel now owns 77,968 shares of the textile maker's stock valued at $4,870,000 after acquiring an additional 25,451 shares during the period. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

NYSE GIL opened at $51.10 on Thursday. The firm's fifty day simple moving average is $54.62 and its two-hundred day simple moving average is $59.56. The company has a current ratio of 2.35, a quick ratio of 1.17 and a debt-to-equity ratio of 1.32. Gildan Activewear, Inc. has a 12-month low of $46.00 and a 12-month high of $73.69. The firm has a market capitalization of $9.46 billion, a P/E ratio of 30.06 and a beta of 1.11.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.07. Gildan Activewear had a return on equity of 21.38% and a net margin of 6.10%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The business's quarterly revenue was up 63.8% on a year-over-year basis. Analysts forecast that Gildan Activewear, Inc. will post 4.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus set a $80.00 price target on Gildan Activewear and gave the stock a "buy" rating in a research report on Monday, July 20th. TD Securities reaffirmed a "buy" rating on shares of Gildan Activewear in a research report on Tuesday, June 16th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Gildan Activewear in a research note on Wednesday, June 17th. Zacks Research upgraded shares of Gildan Activewear from a "strong sell" rating to a "hold" rating in a report on Friday, May 1st. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $77.00 price target on shares of Gildan Activewear in a research report on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Gildan Activewear has a consensus rating of "Moderate Buy" and an average price target of $78.21.

About Gildan Activewear

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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