Charles Schwab Investment Management Inc. Lowers Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Charles Schwab Investment Management Inc. cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,700 shares of the textile maker's stock after selling 30,822 shares during the period. Charles Schwab Investment Management Inc. owned about 0.29% of Gildan Activewear worth $20,495,000 at the end of the most recent quarter.

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

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Gildan Activewear Stock Down 2.0 %

Shares of Gildan Activewear stock traded down $0.90 during trading on Friday, reaching $45.11. 585,948 shares of the company traded hands, compared to its average volume of 621,803. 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 Inc. has a 1-year low of $32.23 and a 1-year high of $55.39. The company has a 50 day moving average price of $50.64 and a 200-day moving average price of $48.64. The firm has a market capitalization of $6.86 billion, a PE ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39.

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 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 previous year, the company posted $0.75 EPS. The business's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share 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. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 2.00%. Gildan Activewear's dividend payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of recent analyst reports. TD Securities boosted their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. CIBC boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. UBS Group boosted their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Citigroup boosted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $60.00.

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.