43,096 Shares in Gildan Activewear Inc. (NYSE:GIL) Purchased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 43,096 shares of the textile maker's stock, valued at approximately $2,028,000.

Other hedge funds have also modified their holdings of the company. Aviva PLC purchased a new position in Gildan Activewear in the 4th quarter worth approximately $3,698,000. Wells Fargo & Company MN grew its holdings in Gildan Activewear by 7.8% during the 4th quarter. Wells Fargo & Company MN now owns 251,950 shares of the textile maker's stock valued at $11,854,000 after purchasing an additional 18,231 shares in the last quarter. Huntington National Bank increased its stake in Gildan Activewear by 16.4% during the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock worth $132,000 after buying an additional 395 shares during the period. Trexquant Investment LP acquired a new position in Gildan Activewear in the 4th quarter worth $1,883,000. Finally, Geode Capital Management LLC boosted its position in Gildan Activewear by 24.1% in the 4th quarter. Geode Capital Management LLC now owns 791,223 shares of the textile maker's stock valued at $37,030,000 after buying an additional 153,816 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price objective on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. TD Securities increased their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, BMO Capital Markets upped their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $60.00.

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Gildan Activewear Stock Performance

Shares of NYSE:GIL traded up $1.36 during trading on Friday, hitting $41.54. 867,889 shares of the company traded hands, compared to its average volume of 646,786. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The business's fifty day moving average is $47.80 and its 200-day moving average is $48.27. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.76 and a beta of 1.16. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced 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). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. 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 firm posted $0.75 EPS. The business's revenue was up 5.0% compared to the same quarter last year. As a group, equities 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 was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were issued a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 2.18%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, March 12th. Gildan Activewear's dividend payout ratio is 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.