Geode Capital Management LLC Has $29.71 Million Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Geode Capital Management LLC raised its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 637,407 shares of the textile maker's stock after purchasing an additional 41,735 shares during the quarter. Geode Capital Management LLC owned approximately 0.41% of Gildan Activewear worth $29,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Intact Investment Management Inc. increased its holdings in shares of Gildan Activewear by 204.8% in the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker's stock valued at $33,416,000 after purchasing an additional 591,980 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Gildan Activewear by 28.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock valued at $70,696,000 after buying an additional 407,113 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock worth $97,290,000 after acquiring an additional 324,304 shares during the last quarter. Cooke & Bieler LP lifted its stake in shares of Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker's stock valued at $388,786,000 after acquiring an additional 271,273 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Gildan Activewear by 332.7% in the second quarter. Toronto Dominion Bank now owns 344,666 shares of the textile maker's stock valued at $13,070,000 after acquiring an additional 265,020 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Down 0.8 %

Shares of NYSE:GIL traded down $0.36 during midday trading on Friday, reaching $46.86. 343,386 shares of the company were exchanged, compared to its average volume of 702,806. The firm has a market cap of $7.16 billion, a PE ratio of 18.52, a P/E/G ratio of 1.82 and a beta of 1.40. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.60. The stock has a fifty day simple moving average of $48.53 and a two-hundred day simple moving average of $44.49. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. During the same period in the previous year, the company posted $0.74 earnings per share. The company's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were paid a $0.152 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.30%. Gildan Activewear's payout ratio is currently 32.41%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. CIBC upped their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, November 1st. TD Securities raised their price target on Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.05.

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.