Vident Advisory LLC Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Vident Advisory LLC bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,545 shares of the textile maker's stock, valued at approximately $402,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Syon Capital LLC grew its stake in Gildan Activewear by 3.9% during the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock valued at $307,000 after acquiring an additional 242 shares in the last quarter. Fifth Third Bancorp grew its stake 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 acquiring an additional 333 shares in the last quarter. Huntington National Bank grew its stake in Gildan Activewear by 16.4% during the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock valued at $132,000 after acquiring an additional 395 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Gildan Activewear by 19.1% during the 4th quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker's stock valued at $144,000 after acquiring an additional 492 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in Gildan Activewear during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 82.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GIL. Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets boosted their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Citigroup boosted their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Gildan Activewear currently has an average rating of "Buy" and a consensus price target of $57.91.

Gildan Activewear Stock Performance

Gildan Activewear stock traded down $1.60 during trading hours on Friday, reaching $46.56. 1,573,773 shares of the company were exchanged, compared to its average volume of 632,723. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.76 and a beta of 1.21. 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 stock has a 50-day moving average of $44.82 and a 200 day moving average of $47.81. 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $711.70 million during the quarter, compared to analysts' expectations of $715.29 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. As a group, research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be given 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 1.94%. Gildan Activewear's payout ratio is currently 34.75%.

Gildan Activewear Company 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.