Gildan Activewear Inc. (NYSE:GIL) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. increased its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 250.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,721 shares of the textile maker's stock after purchasing an additional 19,800 shares during the period. Shell Asset Management Co.'s holdings in Gildan Activewear were worth $1,304,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GIL. Syon Capital LLC increased its holdings 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 worth $307,000 after buying an additional 242 shares during the last quarter. Fifth Third Bancorp grew its position in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after acquiring an additional 333 shares during the period. Huntington National Bank increased its stake in Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock worth $132,000 after acquiring an additional 395 shares during the last quarter. TD Private Client Wealth LLC raised its position in Gildan Activewear by 19.1% in the fourth 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 purchased a new stake in Gildan Activewear in the fourth quarter valued at $28,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Down 2.6%

NYSE:GIL traded down $1.32 during midday trading on Wednesday, reaching $48.90. The company had a trading volume of 712,442 shares, compared to its average volume of 658,303. Gildan Activewear Inc. has a 12-month low of $35.39 and a 12-month high of $55.39. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.76 and a beta of 1.21. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The stock's fifty day simple moving average is $44.40 and its 200-day simple moving average is $47.84.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced 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. The business had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.226 per share. 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%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GIL. UBS Group increased their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. CIBC dropped their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Citigroup boosted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Barclays initiated coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price for the company. Finally, Stifel Nicolaus upped their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gildan Activewear has a consensus rating of "Buy" and a consensus 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.