Arrowstreet Capital Limited Partnership Has $38.41 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Arrowstreet Capital Limited Partnership raised its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 776.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 817,204 shares of the textile maker's stock after buying an additional 723,962 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.54% of Gildan Activewear worth $38,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new position in Gildan Activewear in the fourth quarter valued at about $28,000. Fifth Third Bancorp boosted its stake in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock valued at $42,000 after purchasing an additional 745 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Gildan Activewear by 561.9% in the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock worth $67,000 after buying an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on GIL. CIBC increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. BMO Capital Markets upped their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Citigroup upped their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, TD Securities lifted their target price on Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $60.00.

Gildan Activewear Stock Performance

NYSE GIL traded down $2.01 on Friday, hitting $39.78. The stock had a trading volume of 1,879,733 shares, compared to its average volume of 641,638. The company's 50-day moving average is $49.68 and its two-hundred day moving average is $48.62. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business's quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. Gildan Activewear's dividend payout ratio (DPR) is 36.00%.

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.