Man Group plc Cuts Holdings in Gildan Activewear Inc. (NYSE:GIL)

Man Group plc cut its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,974 shares of the textile maker's stock after selling 65,177 shares during the quarter. Man Group plc owned about 0.32% of Gildan Activewear worth $23,052,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Millennium Management LLC lifted its holdings 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 worth $21,935,000 after buying an additional 458,692 shares in the last quarter. Lazard Asset Management LLC grew its position in Gildan Activewear by 15.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker's stock worth $71,660,000 after purchasing an additional 206,569 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Gildan Activewear by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock valued at $327,950,000 after purchasing an additional 128,674 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Gildan Activewear by 42.3% during the fourth quarter. Gotham Asset Management LLC now owns 18,532 shares of the textile maker's stock valued at $872,000 after buying an additional 5,513 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Gildan Activewear by 5.2% in the 4th quarter. Deutsche Bank AG now owns 221,436 shares of the textile maker's stock worth $10,419,000 after buying an additional 10,889 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Wall Street Analyst Weigh In

GIL has been the topic of several recent analyst reports. Citigroup boosted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Barclays assumed coverage on shares of Gildan Activewear in a report on Monday, April 28th. They set an "overweight" rating and a $51.00 target price for the company. TD Securities upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of "Buy" and a consensus price target of $58.20.

Gildan Activewear Stock Down 1.3%

NYSE GIL traded down $0.64 during trading hours on Wednesday, hitting $49.58. The company's stock had a trading volume of 180,396 shares, compared to its average volume of 655,375. The company has a market capitalization of $7.49 billion, a PE ratio of 19.84, a price-to-earnings-growth 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. Gildan Activewear Inc. has a 52 week low of $35.39 and a 52 week high of $55.39. The company's 50-day simple moving average is $44.40 and its two-hundred day simple moving average is $47.84.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results 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 company had revenue of $711.70 million for 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%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Research analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.82%. Gildan Activewear's dividend payout ratio (DPR) is presently 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.