Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by FIL Ltd

FIL Ltd boosted its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1,884.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 201,137 shares of the textile maker’s stock after buying an additional 191,000 shares during the quarter. FIL Ltd’s holdings in Gildan Activewear were worth $9,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Gildan Activewear in the fourth quarter valued at $97,275,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Gildan Activewear by 604.1% in the 4th 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 acquiring an additional 1,588,071 shares during the last quarter. CIBC Asset Management Inc grew its stake in Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after acquiring an additional 1,022,695 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Gildan Activewear by 776.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after acquiring an additional 723,962 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Gildan Activewear in the third quarter valued at about $24,262,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of recent research reports. TD Securities raised their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. UBS Group raised their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets boosted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, CIBC raised their price target on shares of 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 MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Up 3.4 %

Shares of GIL opened at $41.54 on Friday. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. The company’s fifty day moving average is $47.80 and its two-hundred day moving average is $48.26. The firm has a market cap of $6.31 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. 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 (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share 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 analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Analysts forecast that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently declared 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 positive change from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 2.18%. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

Gildan Activewear 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.