Russell Investments Group Ltd. Decreases Stake in Gildan Activewear Inc. (NYSE:GIL)

Russell Investments Group Ltd. cut its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 45.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,807 shares of the textile maker's stock after selling 213,710 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Gildan Activewear worth $11,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GIL. Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear during the 4th quarter valued at approximately $28,000. Fifth Third Bancorp lifted its stake in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after acquiring an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Gildan Activewear by 899.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after purchasing an additional 908 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock valued at $67,000 after purchasing an additional 1,208 shares during the last quarter. Institutional investors own 82.83% of the company's stock.

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Gildan Activewear Stock Down 0.1 %

NYSE:GIL traded down $0.06 during trading hours on Monday, reaching $41.43. The company had a trading volume of 618,556 shares, compared to its average volume of 646,674. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. 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 firm has a market cap of $6.30 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.76 and a beta of 1.16. The business's 50-day simple moving average is $47.80 and its two-hundred day simple moving average is $48.27.

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

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were issued a $0.226 dividend. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Wednesday, March 12th. Gildan Activewear's dividend payout ratio (DPR) is currently 36.00%.

Analysts Set New Price Targets

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

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.