Trexquant Investment LP Makes New Investment in Gildan Activewear Inc. (NYSE:GIL)

Trexquant Investment LP purchased a new position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,021 shares of the textile maker's stock, valued at approximately $1,883,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of Gildan Activewear during the 3rd quarter worth $457,000. Quantinno Capital Management LP raised its stake in Gildan Activewear by 8.4% in the third quarter. Quantinno Capital Management LP now owns 52,716 shares of the textile maker's stock valued at $2,483,000 after buying an additional 4,069 shares in the last quarter. Stifel Financial Corp lifted its holdings in Gildan Activewear by 7.2% during the 3rd quarter. Stifel Financial Corp now owns 92,054 shares of the textile maker's stock worth $4,337,000 after buying an additional 6,205 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Gildan Activewear by 42.4% during the 3rd quarter. Wellington Management Group LLP now owns 29,724 shares of the textile maker's stock worth $1,401,000 after acquiring an additional 8,855 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Gildan Activewear in the 3rd quarter valued at about $591,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GIL shares. Canaccord Genuity Group upped their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 20th. TD Securities upped their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a report 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 research note on Thursday, February 20th. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $60.00.

Remove Ads

Gildan Activewear Trading Up 0.3 %

GIL traded up $0.12 on Monday, reaching $41.61. 52,859 shares of the company's stock were exchanged, compared to its average volume of 644,499. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. The company's 50 day moving average is $47.80 and its 200-day moving average is $48.27. 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 has a market cap of $6.32 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.76 and a beta of 1.16.

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 analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. During the same quarter in the prior year, the firm earned $0.75 EPS. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. 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.