Quantbot Technologies LP Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Quantbot Technologies LP bought a new position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 74,327 shares of the textile maker's stock, valued at approximately $3,497,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIL. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear during the fourth quarter valued at $28,000. Fifth Third Bancorp raised its holdings in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after purchasing an additional 745 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock valued at $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers lifted its stake in Gildan Activewear by 561.9% in the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock valued at $67,000 after acquiring an additional 1,208 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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Gildan Activewear Price Performance

GIL traded down $1.00 on Wednesday, reaching $44.15. The company had a trading volume of 1,128,868 shares, compared to its average volume of 622,950. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39. The business has a 50 day simple moving average of $50.51 and a 200 day simple moving average of $48.68. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to analysts' expectations of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 2.05%. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's payout ratio is 36.00%.

Analyst Upgrades and Downgrades

GIL has been the topic of several research analyst reports. TD Securities upped their price objective on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. UBS Group upped their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Stifel Nicolaus boosted their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. CIBC boosted their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Citigroup lifted their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $60.00.

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.