Public Employees Retirement System of Ohio Invests $591,000 in Gildan Activewear Inc. (NYSE:GIL)

Public Employees Retirement System of Ohio purchased a new position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,540 shares of the textile maker's stock, valued at approximately $591,000.

A number of other large investors also recently bought and sold shares of GIL. Wellington Management Group LLP increased its position in Gildan Activewear by 42.4% during the 3rd quarter. Wellington Management Group LLP now owns 29,724 shares of the textile maker's stock valued at $1,401,000 after buying an additional 8,855 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Gildan Activewear by 7.2% during the third quarter. Stifel Financial Corp now owns 92,054 shares of the textile maker's stock valued at $4,337,000 after acquiring an additional 6,205 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Gildan Activewear by 8.4% during the third quarter. Quantinno Capital Management LP now owns 52,716 shares of the textile maker's stock valued at $2,483,000 after acquiring an additional 4,069 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock worth $322,298,000 after purchasing an additional 240,375 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Gildan Activewear in the 3rd quarter worth about $457,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, November 1st. CIBC increased their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price target on Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, TD Securities increased their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.05.

Gildan Activewear Stock Performance

Gildan Activewear stock traded up $0.01 during mid-day trading on Friday, reaching $46.78. 712,813 shares of the stock traded hands, compared to its average volume of 706,804. The stock has a market capitalization of $7.15 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The business's 50-day moving average is $48.59 and its 200-day moving average is $44.23. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were issued a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.

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.