Man Group plc Has $23.05 Million Holdings in Gildan Activewear Inc. (NYSE:GIL)

Man Group plc decreased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,974 shares of the textile maker’s stock after selling 65,177 shares during the quarter. Man Group plc’s holdings in Gildan Activewear were worth $23,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Gildan Activewear in the 4th quarter valued at $97,275,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gildan Activewear by 604.1% in 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 buying an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Gildan Activewear by 276.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after buying an additional 1,300,121 shares during the period. CIBC Asset Management Inc boosted its holdings in 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 buying an additional 1,022,695 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after buying an additional 723,962 shares during the period. 82.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Barclays assumed coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an “overweight” rating and a $51.00 target price on the stock. UBS Group lifted their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus upped their price objective 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, Citigroup lifted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $58.20.

Gildan Activewear Trading Up 0.4%

Shares of NYSE:GIL opened at $49.30 on Friday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.76 and a beta of 1.21. Gildan Activewear Inc. has a 12 month low of $34.62 and a 12 month high of $55.39. The company’s fifty day simple moving average is $44.24 and its 200 day simple moving average is $47.82. 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 released its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is currently 34.75%.

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.