Man Group plc Has $23.05 Million Position in Gildan Activewear Inc. (NYSE:GIL)

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

Several other large investors have also made changes to their positions in the business. Norges Bank bought a new position in Gildan Activewear in the 4th quarter worth approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. grew 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 worth $86,999,000 after acquiring an additional 1,588,071 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares during the period. CIBC Asset Management Inc increased its position in Gildan Activewear by 545.1% during the fourth 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 raised its stake in Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after purchasing an additional 723,962 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Trading Up 0.4%

GIL stock opened at $49.30 on Friday. Gildan Activewear Inc. has a 1-year low of $34.62 and a 1-year high of $55.39. 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 business's 50 day moving average is $44.24 and its 200-day moving average is $47.82. The firm has a market cap of $7.47 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.76 and a beta of 1.21.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced 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 firm 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%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. Equities analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 1.83%. Gildan Activewear's dividend payout ratio (DPR) is presently 34.75%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays initiated coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price target on the stock. UBS Group boosted their price target 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 upped their price target on 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 stock a "buy" rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus boosted their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus 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.

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