Vanguard Group Inc. Has $286.31 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Vanguard Group Inc. trimmed its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,083,486 shares of the textile maker's stock after selling 323,904 shares during the quarter. Vanguard Group Inc. owned 3.99% of Gildan Activewear worth $286,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew 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 purchasing an additional 1,588,071 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after buying an additional 1,022,695 shares during the last quarter. Intact Investment Management Inc. grew its stake in shares of Gildan Activewear by 7.1% in the 4th quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker's stock valued at $49,763,000 after buying an additional 70,270 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in Gildan Activewear by 192.7% in the fourth quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker's stock worth $34,918,000 after buying an additional 488,602 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Gildan Activewear by 7.0% in the third quarter. Geode Capital Management LLC now owns 637,407 shares of the textile maker's stock worth $29,708,000 after buying an additional 41,735 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Gildan Activewear Stock Performance

GIL traded down $0.69 during midday trading on Monday, reaching $39.09. The company's stock had a trading volume of 1,219,499 shares, compared to its average volume of 644,825. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $49.46 and a 200 day simple moving average of $48.62. The stock has a market cap of $5.94 billion, a P/E ratio of 15.63, a PEG ratio of 1.76 and a beta of 1.16. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results 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). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same period last year, the firm posted $0.75 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a yield of 2.31%. Gildan Activewear's dividend payout ratio (DPR) is 36.00%.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus boosted their target price 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. Citigroup upped their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. CIBC raised their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, TD Securities increased their price objective on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $60.00.

About Gildan Activewear

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.