Y Intercept Hong Kong Ltd Buys New Shares in Gildan Activewear, Inc. (NYSE:GIL)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in Gildan Activewear, Inc., purchasing 15,669 shares valued at approximately $693,000.
• Gildan Activewear reported earnings of $0.59 per share for the last quarter, exceeding analyst estimates by $0.02.
• The company recently announced a quarterly dividend of $0.226 per share, translating to an annual yield of 1.73%.

Y Intercept Hong Kong Ltd purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,669 shares of the textile maker's stock, valued at approximately $693,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GIL. Norges Bank acquired a new position in shares of Gildan Activewear in the 4th quarter valued at $97,275,000. The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 276.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock valued at $83,394,000 after acquiring an additional 1,300,121 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after acquiring an additional 723,962 shares in the last quarter. Genus Capital Management Inc. lifted its position in Gildan Activewear by 191.7% in the 1st quarter. Genus Capital Management Inc. now owns 251,308 shares of the textile maker's stock valued at $11,109,000 after acquiring an additional 525,386 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Gildan Activewear by 5,996.0% in the 4th quarter. Millennium Management LLC now owns 466,342 shares of the textile maker's stock valued at $21,935,000 after acquiring an additional 458,692 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 down $0.83 on Tuesday, hitting $51.72. The stock had a trading volume of 398,268 shares, compared to its average volume of 640,790. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $55.39. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The firm has a 50-day moving average of $49.32 and a 200-day moving average of $48.18.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to analysts' expectations of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. Equities analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 34.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday. CIBC decreased their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report 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. Finally, Barclays initiated coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They set an "overweight" rating and a $51.00 target price for the company. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $58.00.

About Gildan Activewear

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.