Swiss National Bank Sells 40,700 Shares of Gildan Activewear Inc. (NYSE:GIL)

Swiss National Bank lessened its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 410,300 shares of the textile maker's stock after selling 40,700 shares during the period. Swiss National Bank owned about 0.27% of Gildan Activewear worth $19,300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GIL. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear in the 4th quarter valued at about $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 purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock valued at $42,000 after purchasing an additional 745 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Gildan Activewear by 899.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock valued at $47,000 after purchasing an additional 908 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Gildan Activewear by 561.9% in the 4th 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 period. Institutional investors own 82.83% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GIL shares. BMO Capital Markets boosted their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. TD Securities upped their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group upped their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. UBS Group upped their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus upped their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $60.00.

Gildan Activewear Stock Down 2.0 %

GIL traded down $0.90 during midday trading on Friday, reaching $45.11. 585,948 shares of the company were exchanged, compared to its average volume of 622,815. 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 company's fifty day moving average price is $50.64 and its 200 day moving average price is $48.61. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data 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 company had revenue of $822.00 million for 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 for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 2.00%. Gildan Activewear's dividend payout ratio is currently 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.