Avanza Fonder AB Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Avanza Fonder AB 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 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,801 shares of the textile maker's stock, valued at approximately $602,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new position in Gildan Activewear in the 3rd quarter valued at approximately $24,262,000. EdgePoint Investment Group Inc. raised its position in Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock worth $70,696,000 after purchasing an additional 407,113 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock worth $97,290,000 after buying an additional 324,304 shares during the period. Toronto Dominion Bank grew its position in shares of Gildan Activewear by 332.7% in the 2nd quarter. Toronto Dominion Bank now owns 344,666 shares of the textile maker's stock valued at $13,070,000 after buying an additional 265,020 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock valued at $322,298,000 after buying an additional 240,375 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GIL. CIBC upped their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a report on Friday, November 1st. TD Securities increased their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear presently has a consensus rating of "Buy" and a consensus target price of $53.35.

Gildan Activewear Stock Up 0.6 %

GIL stock traded up $0.29 during midday trading on Monday, reaching $49.78. 364,537 shares of the company's stock traded hands, compared to its average volume of 368,196. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.59 and a beta of 1.41. The firm's fifty day moving average price is $48.28 and its 200-day moving average price is $45.62. Gildan Activewear Inc. has a 52 week low of $31.22 and a 52 week high of $50.60. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for the quarter, compared to analysts' expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, November 21st were given a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, November 21st. Gildan Activewear's payout ratio is currently 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.