Generali Asset Management SPA SGR Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Generali Asset Management SPA SGR purchased a new position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,977 shares of the textile maker's stock, valued at approximately $2,634,000.

Several other hedge funds and other institutional investors have also modified their holdings of GIL. Thrivent Financial for Lutherans purchased a new stake in shares of Gildan Activewear during the 4th quarter worth about $6,655,000. Envestnet Portfolio Solutions Inc. increased its holdings in Gildan Activewear by 8.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,646 shares of the textile maker's stock worth $1,395,000 after buying an additional 2,361 shares during the last quarter. Intact Investment Management Inc. raised its position in Gildan Activewear by 7.1% during the fourth quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker's stock valued at $49,763,000 after acquiring an additional 70,270 shares in the last quarter. Achmea Investment Management B.V. lifted its stake in Gildan Activewear by 82.9% in the fourth quarter. Achmea Investment Management B.V. now owns 19,066 shares of the textile maker's stock valued at $897,000 after acquiring an additional 8,642 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after acquiring an additional 1,588,071 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Gildan Activewear Stock Performance

Shares of GIL traded up $0.34 during mid-day trading on Monday, hitting $45.51. The company's stock had a trading volume of 435,053 shares, compared to its average volume of 621,056. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. The stock's 50-day moving average is $50.64 and its two-hundred day moving average is $48.67. The firm has a market capitalization of $6.92 billion, a PE ratio of 18.20, a price-to-earnings-growth 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 posted its quarterly earnings results 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). The company had revenue of $822.00 million during the quarter, compared to analyst estimates 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 for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be issued a $0.226 dividend. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.99%. Gildan Activewear's dividend payout ratio is 36.00%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GIL shares. 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 raised their target price 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 upped their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price 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.