Browning West LP Trims Position in Gildan Activewear Inc. (NYSE:GIL)

Browning West LP cut its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 41.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,632,881 shares of the textile maker's stock after selling 4,004,254 shares during the period. Gildan Activewear comprises approximately 26.5% of Browning West LP's portfolio, making the stock its 2nd biggest holding. Browning West LP owned about 3.69% of Gildan Activewear worth $265,027,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Gildan Activewear in the 4th quarter worth approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after buying an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Gildan Activewear by 276.9% during 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 buying an additional 1,300,121 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of 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 acquiring an additional 1,022,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings 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 worth $38,414,000 after acquiring an additional 723,962 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

GIL traded down $0.18 during trading on Wednesday, reaching $46.76. The stock had a trading volume of 559,549 shares, compared to its average volume of 657,718. The business has a 50-day moving average of $44.65 and a 200-day moving average of $47.80. Gildan Activewear Inc. has a one year low of $32.32 and a one year high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a market cap of $7.09 billion, a PE ratio of 18.70, a PEG ratio of 1.76 and a beta of 1.21.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 EPS 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 analyst estimates 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 period in the prior year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear's payout ratio is presently 34.75%.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Citigroup increased their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Barclays began coverage on Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price target for the company. Finally, CIBC dropped their price objective on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $58.20.

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.