Unigestion Holding SA Invests $1.70 Million in Gildan Activewear Inc. (NYSE:GIL)

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

Several other hedge funds have also modified their holdings of GIL. Forge First Asset Management Inc. raised its holdings in Gildan Activewear by 108.0% in the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock valued at $2,191,000 after acquiring an additional 24,200 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Gildan Activewear by 250.0% in the fourth quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker's stock worth $1,304,000 after purchasing an additional 19,800 shares during the period. Polar Asset Management Partners Inc. raised its holdings in shares of Gildan Activewear by 55.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock worth $1,244,000 after purchasing an additional 9,450 shares during the period. Truist Financial Corp lifted its holdings in Gildan Activewear by 76.8% in the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock worth $913,000 after acquiring an additional 8,430 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in 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 buying an additional 1,022,695 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIL has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Citigroup lifted their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Scotiabank upgraded Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective for the company in a report on Wednesday, May 28th. Finally, TD Securities raised their target price on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Nine research 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 an average rating of "Buy" and an average price target of $57.91.

Gildan Activewear Trading Down 0.5%

Shares of Gildan Activewear stock traded down $0.22 during trading on Thursday, hitting $47.63. The stock had a trading volume of 479,025 shares, compared to its average volume of 633,896. The company has a market capitalization of $7.20 billion, a PE ratio of 19.05, a P/E/G ratio of 1.76 and a beta of 1.21. Gildan Activewear Inc. has a 1 year low of $36.91 and a 1 year 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 50 day simple moving average of $44.97 and a 200 day simple moving average of $47.79.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly 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 during the quarter, compared to analyst estimates of $715.29 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 annualized dividend and a dividend yield of 1.90%. Gildan Activewear's dividend payout ratio is 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.