Unigestion Holding SA Purchases Shares of 38,542 Gildan Activewear Inc. (NYSE:GIL)

Unigestion Holding SA acquired a new position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,542 shares of the textile maker's stock, valued at approximately $1,704,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Gildan Activewear in the 4th quarter valued at $97,275,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Gildan Activewear by 604.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after acquiring an additional 1,588,071 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after buying an additional 1,022,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Gildan Activewear by 776.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after buying an additional 723,962 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Price Performance

NYSE GIL traded up $0.22 on Friday, hitting $47.86. The company had a trading volume of 379,835 shares, compared to its average volume of 632,665. The company has a market capitalization of $7.23 billion, a PE ratio of 19.14, a PEG ratio of 1.76 and a beta of 1.20. The company's fifty day moving average price is $45.09 and its 200-day moving average price is $47.78. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. Gildan Activewear Inc. has a 12-month low of $36.91 and a 12-month high of $55.39.

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 for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $711.70 million during 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%. Gildan Activewear's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, 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. Shareholders of record on Tuesday, May 20th will be issued 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 yield of 1.89%. Gildan Activewear's payout ratio is currently 34.75%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GIL shares. TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, May 28th. Barclays started coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price on the stock. CIBC reduced 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, Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Gildan Activewear has an average rating of "Buy" and an average target price 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.