Two Sigma Investments LP Sells 221,288 Shares of Gildan Activewear Inc. (NYSE:GIL)

Two Sigma Investments LP reduced its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 86.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,083 shares of the textile maker's stock after selling 221,288 shares during the period. Two Sigma Investments LP's holdings in Gildan Activewear were worth $1,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in shares of Gildan Activewear by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock worth $327,950,000 after purchasing an additional 128,674 shares during the period. Norges Bank bought a new position in Gildan Activewear during the 4th quarter valued at approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Gildan Activewear by 604.1% during the 4th 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 purchasing an additional 1,588,071 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Gildan Activewear by 276.9% in 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 buying an additional 1,300,121 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Gildan Activewear by 19.5% in the 4th quarter. National Bank of Canada FI now owns 1,668,147 shares of the textile maker's stock worth $78,571,000 after buying an additional 272,627 shares during the last quarter. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Up 0.5%

Shares of Gildan Activewear stock traded up $0.22 during trading on Friday, hitting $47.86. The company's stock had a trading volume of 379,835 shares, compared to its average volume of 632,300. Gildan Activewear Inc. has a 52 week low of $36.91 and a 52 week high of $55.39. The company has a market capitalization of $7.23 billion, a PE ratio of 19.14, a P/E/G ratio of 1.76 and a beta of 1.20. The company has a fifty day simple moving average of $45.03 and a two-hundred day simple moving average of $47.79. 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 announced its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share 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 analysts' expectations of $715.29 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business's revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is presently 34.75%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GIL. Citigroup boosted their target price on 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 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. CIBC dropped their target price 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. Finally, TD Securities lifted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $57.91.

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.