Hudson Way Capital Management LLC Cuts Position in Gildan Activewear Inc. (NYSE:GIL)

Hudson Way Capital Management LLC lowered its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,338 shares of the textile maker's stock after selling 126,416 shares during the period. Gildan Activewear comprises 2.1% of Hudson Way Capital Management LLC's holdings, making the stock its 15th largest position. Hudson Way Capital Management LLC owned 0.26% of Gildan Activewear worth $18,601,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in shares of Gildan Activewear in the 4th quarter valued at about $28,000. Fifth Third Bancorp raised its position in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers grew its stake in Gildan Activewear by 561.9% in the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock valued at $67,000 after buying an additional 1,208 shares during the last quarter. Institutional investors own 82.83% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Barclays started coverage on Gildan Activewear in a report on Monday, April 28th. They set an "overweight" rating and a $51.00 target price on the stock. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $58.20.

Gildan Activewear Stock Up 1.8%

GIL stock traded up $0.89 during trading on Friday, reaching $50.23. 167,598 shares of the stock were exchanged, compared to its average volume of 652,278. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a twelve month low of $34.62 and a twelve month high of $55.39. The firm's 50 day moving average is $44.24 and its 200 day moving average is $47.82. The firm has a market cap of $7.59 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.

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, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. As a group, research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be issued a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.80%. Gildan Activewear's dividend payout ratio is presently 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.