PDT Partners LLC Makes New Investment in Gildan Activewear Inc. (NYSE:GIL)

PDT Partners LLC purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,509 shares of the textile maker's stock, valued at approximately $400,000.

A number of other large investors have also recently added to or reduced their stakes in GIL. Syon Capital LLC increased its stake in shares of Gildan Activewear by 3.9% during the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock worth $307,000 after purchasing an additional 242 shares during the last quarter. Fifth Third Bancorp increased its position in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after buying an additional 333 shares during the last quarter. Cooper Financial Group raised its stake in Gildan Activewear by 2.1% in the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker's stock valued at $765,000 after buying an additional 340 shares during the period. Huntington National Bank lifted its position in shares of Gildan Activewear by 16.4% in the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock valued at $132,000 after buying an additional 395 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Gildan Activewear by 19.1% during the 4th quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker's stock worth $144,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $46.00 on Friday. The stock has a market capitalization of $6.97 billion, a PE ratio of 18.40, a P/E/G ratio of 1.76 and a beta of 1.16. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The business has a fifty day moving average price of $45.07 and a two-hundred day moving average price of $47.80.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results 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 net margin of 12.26% and a return on equity of 28.80%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, equities analysts predict 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. Stockholders of record on Tuesday, May 20th will be issued 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 dividend yield of 1.97%. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on GIL. Barclays assumed coverage on Gildan Activewear in a report on Monday. They set an "overweight" rating and a $51.00 price target for the company. TD Securities raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday. CIBC reduced their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday. Canaccord Genuity Group raised their price objective 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. Finally, Stifel Nicolaus upped their target price 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target 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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