Massachusetts Financial Services Co. MA Has $38.21 Million Holdings in Gildan Activewear Inc. (NYSE:GIL)

Massachusetts Financial Services Co. MA decreased its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 45.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 812,069 shares of the textile maker's stock after selling 675,731 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.53% of Gildan Activewear worth $38,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Gildan Activewear during the 4th quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Gildan Activewear by 604.1% during 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 during the period. CIBC Asset Management Inc lifted its position in shares of 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. Arrowstreet Capital Limited Partnership boosted its stake in shares of Gildan Activewear by 776.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after purchasing an additional 723,962 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Gildan Activewear in the third quarter valued at $24,262,000. 82.83% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Securities upped their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets increased their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a 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. Citigroup increased their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $60.00.

Gildan Activewear Stock Performance

GIL stock traded down $1.41 during trading on Thursday, hitting $39.71. 355,999 shares of the company's stock traded hands, compared to its average volume of 643,518. The stock has a fifty day moving average price of $48.22 and a two-hundred day moving average price of $48.34. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued 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). The business had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 2.28%. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 12th. Gildan Activewear's payout ratio is presently 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.