Legacy Wealth Asset Management LLC Has $610,000 Stake in Gildan Activewear Inc. (NYSE:GIL)

Legacy Wealth Asset Management LLC grew its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 115.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,965 shares of the textile maker's stock after buying an additional 6,938 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Gildan Activewear were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. JCIC Asset Management Inc. bought a new stake in shares of Gildan Activewear during the fourth quarter worth $3,853,000. Cooper Financial Group grew its holdings in Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker's stock worth $765,000 after acquiring an additional 340 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Gildan Activewear in the 3rd quarter valued at about $24,262,000. Franklin Resources Inc. raised its stake in shares of Gildan Activewear by 6.5% in the third quarter. Franklin Resources Inc. now owns 35,135 shares of the textile maker's stock worth $1,702,000 after acquiring an additional 2,138 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Gildan Activewear by 76.1% during the third quarter. Synovus Financial Corp now owns 40,798 shares of the textile maker's stock worth $1,922,000 after purchasing an additional 17,634 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Stock Up 0.6 %

Shares of NYSE GIL traded up $0.29 during mid-day trading on Friday, reaching $49.78. 364,537 shares of the company's stock were exchanged, compared to its average volume of 368,196. Gildan Activewear Inc. has a twelve month low of $31.22 and a twelve month high of $50.60. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.59 and a beta of 1.41. The business has a fifty day simple moving average of $48.28 and a 200 day simple moving average of $45.57.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, equities analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GIL. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. CIBC boosted their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Citigroup raised their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a report on Friday, November 1st. BMO Capital Markets boosted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $53.35.

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.