Amundi Lowers Position in Gildan Activewear Inc. (NYSE:GIL)

Amundi lessened its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,341 shares of the textile maker's stock after selling 15,858 shares during the quarter. Amundi owned approximately 0.10% of Gildan Activewear worth $7,204,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GIL. Plato Investment Management Ltd bought a new position in shares of Gildan Activewear during the fourth quarter valued at $28,000. Fifth Third Bancorp increased its holdings in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC raised its position in Gildan Activewear by 500.0% during 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 last quarter. Venturi Wealth Management LLC lifted its holdings in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers grew 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 valued at $67,000 after buying an additional 1,208 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

GIL has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. TD Securities upped their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Citigroup boosted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gildan Activewear has an average rating of "Buy" and an average price target of $60.00.

Gildan Activewear Stock Up 0.8 %

Shares of NYSE GIL traded up $0.39 during trading on Wednesday, hitting $46.77. 349,885 shares of the company traded hands, compared to its average volume of 583,534. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.76 and a beta of 1.39. The business's fifty day moving average is $50.72 and its 200 day moving average is $48.64. 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 Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39.

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 for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same period last year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict 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 1.93%. Gildan Activewear's dividend 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.