Candriam S.C.A. bought a new position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,989 shares of the textile maker's stock, valued at approximately $940,000.
Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in shares of Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after purchasing an additional 1,022,695 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Gildan Activewear in the third quarter valued at $24,262,000. Bahl & Gaynor Inc. grew its position in Gildan Activewear by 192.7% during the fourth quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker's stock valued at $34,918,000 after acquiring an additional 488,602 shares during the period. Janus Henderson Group PLC increased its stake in Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock worth $322,298,000 after acquiring an additional 240,375 shares during the last quarter. Finally, Simcoe Capital Management LLC raised its holdings in shares of Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock worth $112,492,000 after purchasing an additional 226,695 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.
Gildan Activewear Price Performance
Shares of GIL traded up $0.57 during mid-day trading on Friday, hitting $46.53. The company's stock had a trading volume of 379,061 shares, compared to its average volume of 594,810. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.76 and a beta of 1.39. The firm has a 50-day moving average price of $50.74 and a 200 day moving average price of $48.55. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). The firm had revenue of $822.00 million during the quarter, compared to analysts' expectations of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business's revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. On average, research analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.
Gildan Activewear Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio (DPR) is presently 36.00%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. CIBC raised their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. TD Securities increased their price target on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group boosted their price objective on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Citigroup increased their target price 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, Canaccord Genuity Group boosted their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear currently has a consensus rating of "Buy" and a consensus target price of $60.00.
Check Out Our Latest Stock Analysis on GIL
About Gildan Activewear
(
Free Report)
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.
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