Marathon Asset Management Ltd Decreases Position in Gildan Activewear Inc. (NYSE:GIL)

Marathon Asset Management Ltd trimmed its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 930,419 shares of the textile maker's stock after selling 29,282 shares during the quarter. Gildan Activewear makes up 1.2% of Marathon Asset Management Ltd's portfolio, making the stock its 29th biggest holding. Marathon Asset Management Ltd owned 0.61% of Gildan Activewear worth $43,769,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Simcoe Capital Management LLC boosted its position in Gildan Activewear by 10.5% during the third 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. Intech Investment Management LLC purchased a new stake in Gildan Activewear during the third quarter worth $544,000. CIBC Asset Management Inc boosted its position in Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Tacita Capital Inc boosted its position in Gildan Activewear by 1,025.5% during the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock worth $615,000 after purchasing an additional 11,896 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in shares of Gildan Activewear in the fourth quarter valued at $462,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on GIL shares. Citigroup upped their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Canaccord Genuity Group upped their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. UBS Group upped their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. TD Securities upped 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. Finally, CIBC upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear has a consensus rating of "Buy" and a consensus price target of $60.00.

Gildan Activewear Trading Up 0.5 %

Shares of GIL opened at $54.05 on Monday. The company has a market capitalization of $8.22 billion, a P/E ratio of 21.62, a P/E/G ratio of 1.76 and a beta of 1.41. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a 50-day moving average price of $50.24 and a 200 day moving average price of $48.18.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analysts' expectations of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Sell-side analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a yield of 1.67%. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio is currently 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.

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