USS Investment Management Ltd lowered its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 61.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,399 shares of the textile maker's stock after selling 36,784 shares during the period. USS Investment Management Ltd's holdings in Gildan Activewear were worth $1,100,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new position in Gildan Activewear in the fourth quarter valued at about $28,000. Fifth Third Bancorp increased its holdings in Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock valued at $42,000 after buying an additional 745 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Gildan Activewear by 899.0% in the 4th 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 last quarter. Finally, Rhumbline Advisers boosted its position in shares of Gildan Activewear by 561.9% in the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock worth $67,000 after purchasing an additional 1,208 shares during the last quarter. Institutional investors own 82.83% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on GIL. CIBC dropped their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Citigroup upped their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Barclays initiated coverage on Gildan Activewear in a research note on Monday, April 28th. They set an "overweight" rating and a $51.00 target price for the company. TD Securities raised their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Scotiabank upgraded Gildan Activewear to a "strong-buy" rating and set a $55.00 price target for the company in a research note on Wednesday. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $57.91.
View Our Latest Stock Analysis on GIL
Gildan Activewear Stock Down 1.9%
Shares of GIL traded down $0.93 during mid-day trading on Friday, hitting $47.23. The company's stock had a trading volume of 167,018 shares, compared to its average volume of 631,133. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.76 and a beta of 1.21. The company's 50-day moving average is $44.79 and its 200-day moving average is $47.84. Gildan Activewear Inc. has a 52-week low of $36.20 and a 52-week high of $55.39.
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 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The firm 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, equities research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal 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. This represents a $0.90 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear's payout ratio is 34.75%.
About Gildan Activewear
(
Free Report)
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.
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