Two Sigma Investments LP Has $1.70 Million Position in Gildan Activewear Inc. (NYSE:GIL)

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

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Gildan Activewear during the 4th quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 worth $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company raised 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 in the last quarter. CIBC Asset Management Inc raised 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock worth $38,414,000 after purchasing an additional 723,962 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GIL. Citigroup raised their price target on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. TD Securities raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. CIBC cut their price objective on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Barclays initiated coverage on Gildan Activewear in a research note on Monday, April 28th. They issued an "overweight" rating and a $51.00 price objective on the stock. Finally, Scotiabank raised Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a research note on Wednesday, May 28th. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $57.91.

Gildan Activewear Stock Performance

Shares of GIL stock traded up $1.27 during trading hours on Wednesday, reaching $47.85. 575,369 shares of the company's stock were exchanged, compared to its average volume of 633,557. Gildan Activewear Inc. has a fifty-two week low of $36.91 and a fifty-two week high of $55.39. The stock has a market capitalization of $7.23 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.76 and a beta of 1.21. The business has a fifty day moving average price of $44.91 and a 200-day moving average price of $47.79. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results 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 return on equity of 28.80% and a net margin of 12.26%. The company had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company's quarterly 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 Dividend Announcement

The company 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 1.89%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's dividend payout ratio is presently 34.75%.

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.