Shell Asset Management Co. Has $1.30 Million Holdings in Gildan Activewear Inc. (NYSE:GIL)

Shell Asset Management Co. raised its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 250.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,721 shares of the textile maker's stock after buying an additional 19,800 shares during the quarter. Shell Asset Management Co.'s holdings in Gildan Activewear were worth $1,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Norges Bank acquired a new stake in shares of Gildan Activewear during the 4th quarter valued at about $97,275,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after acquiring an additional 1,588,071 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake 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 worth $83,394,000 after purchasing an additional 1,300,121 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after purchasing an additional 723,962 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Shares of GIL stock traded up $0.13 during trading hours on Friday, reaching $49.05. 124,333 shares of the company's stock were exchanged, compared to its average volume of 688,936. Gildan Activewear Inc. has a fifty-two week low of $35.51 and a fifty-two week high of $55.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $7.41 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.76 and a beta of 1.21. The business has a fifty day moving average price of $44.49 and a 200-day moving average price of $47.85.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (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 for the quarter, compared to analyst estimates of $715.29 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Gildan Activewear's revenue was up 2.3% compared to the same quarter last year. Analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 34.75%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GIL shares. CIBC cut their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus upped their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets upped their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Barclays started coverage on shares of Gildan Activewear in a research note on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Gildan Activewear currently has a consensus rating of "Buy" and an average price target of $58.20.

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.