UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 32,720 Shares of Gildan Activewear Inc. (NYSE:GIL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,871 shares of the textile maker's stock after selling 32,720 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.12% of Gildan Activewear worth $8,557,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIL. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear during the 4th quarter valued at $28,000. Fifth Third Bancorp lifted its position in shares of 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 buying an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after purchasing an additional 908 shares during the period. Finally, Rhumbline Advisers increased its stake in Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock valued at $67,000 after acquiring an additional 1,208 shares during the period. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Up 2.7%

Shares of GIL traded up $1.27 during mid-day trading on Wednesday, hitting $47.85. 575,369 shares of the company's stock were exchanged, compared to its average volume of 634,346. The stock's 50-day moving average is $44.97 and its 200-day moving average is $47.79. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 1.76 and a beta of 1.21. Gildan Activewear Inc. has a fifty-two week low of $36.91 and a fifty-two week high of $55.39. 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 released its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

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 issued 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 payout ratio is currently 34.75%.

Analysts Set New Price Targets

GIL has been the topic of several recent analyst reports. UBS Group boosted their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. CIBC reduced their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. TD Securities raised their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets raised their target price 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, Stifel Nicolaus raised their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $57.91.

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.