Gildan Activewear Inc. (NYSE:GIL) Stock Position Raised by Bridgewater Associates LP

Bridgewater Associates LP increased its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 84.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,559 shares of the textile maker's stock after purchasing an additional 55,339 shares during the period. Bridgewater Associates LP owned 0.08% of Gildan Activewear worth $5,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GIL. Tacita Capital Inc raised its stake in shares of Gildan Activewear by 1,025.5% in the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock worth $615,000 after buying an additional 11,896 shares in the last quarter. Boston Partners grew its holdings in Gildan Activewear by 217.3% during the first quarter. Boston Partners now owns 357,910 shares of the textile maker's stock worth $13,281,000 after acquiring an additional 245,119 shares during the period. Bridges Investment Management Inc. bought a new stake in Gildan Activewear in the second quarter worth about $1,425,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Gildan Activewear by 31.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker's stock valued at $59,674,000 after acquiring an additional 377,135 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Gildan Activewear by 7,709.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock valued at $5,899,000 after purchasing an additional 123,578 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Up 0.1 %

NYSE GIL traded up $0.06 during trading on Friday, reaching $49.62. 150,287 shares of the company's stock were exchanged, compared to its average volume of 718,442. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58. The company's fifty day simple moving average is $48.15 and its 200-day simple moving average is $42.98. The firm has a market capitalization of $7.64 billion, a PE ratio of 19.61, a P/E/G ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $891.10 million during 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Sell-side analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. Gildan Activewear's dividend payout ratio is 32.41%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GIL. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup upped their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada raised their price objective on Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Canaccord Genuity Group boosted their target price on Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, TD Securities upped their target price on Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.85.

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.