Magnetar Financial LLC Makes New $2.42 Million Investment in Gildan Activewear Inc. (NYSE:GIL)

Magnetar Financial LLC bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 51,518 shares of the textile maker's stock, valued at approximately $2,424,000.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock valued at $322,298,000 after acquiring an additional 240,375 shares in the last quarter. Simcoe Capital Management LLC lifted its holdings in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock worth $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after purchasing an additional 1,588,071 shares during the period. CIBC Asset Management Inc grew its holdings in 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 in the last quarter. Finally, Intact Investment Management Inc. raised its position in shares of Gildan Activewear by 7.1% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GIL. TD Securities upped their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Citigroup increased their price objective 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. Stifel Nicolaus raised their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, CIBC raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Nine 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 Trading Down 1.0 %

Shares of Gildan Activewear stock traded down $0.44 on Tuesday, reaching $45.11. The company had a trading volume of 529,326 shares, compared to its average volume of 621,041. The firm's 50-day moving average price is $50.59 and its two-hundred day moving average price is $48.68. Gildan Activewear Inc. has a 1 year low of $32.23 and a 1 year high of $55.39. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data 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 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 the consensus estimate of $805.75 million. During the same quarter last year, the firm earned $0.75 EPS. The company's revenue was up 5.0% on a year-over-year basis. As a group, research analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 2.00%. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio (DPR) is presently 36.00%.

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.