Gildan Activewear Inc. (NYSE:GIL) Shares Bought by Homestead Advisers Corp

Homestead Advisers Corp raised its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,700 shares of the textile maker's stock after buying an additional 15,700 shares during the quarter. Homestead Advisers Corp owned approximately 0.07% of Gildan Activewear worth $4,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Gildan Activewear in the third quarter valued at approximately $544,000. Cerity Partners LLC grew its stake in shares of Gildan Activewear by 171.1% during the 3rd quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker's stock valued at $835,000 after buying an additional 11,184 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gildan Activewear during the 3rd quarter worth $462,000. Townsquare Capital LLC purchased a new position in shares of Gildan Activewear in the 3rd quarter worth $253,000. Finally, Bridgewater Associates LP grew its position in Gildan Activewear by 84.8% during the third quarter. Bridgewater Associates LP now owns 120,559 shares of the textile maker's stock valued at $5,681,000 after acquiring an additional 55,339 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GIL shares. CIBC lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. TD Securities lifted their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets increased their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $60.00.

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Gildan Activewear Stock Performance

Shares of NYSE:GIL traded down $0.74 during trading on Monday, reaching $44.22. 131,877 shares of the company's stock traded hands, compared to its average volume of 636,907. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The company has a 50 day moving average of $50.21 and a 200-day moving average of $48.69. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The stock has a market capitalization of $6.72 billion, a P/E ratio of 17.69, a price-to-earnings-growth 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 (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, equities analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear's payout ratio is presently 36.00%.

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.