Gildan Activewear Inc. (NYSE:GIL) Stock Position Reduced by Marathon Asset Management Ltd

Marathon Asset Management Ltd trimmed its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 930,419 shares of the textile maker’s stock after selling 29,282 shares during the quarter. Gildan Activewear comprises 1.2% of Marathon Asset Management Ltd’s portfolio, making the stock its 29th largest position. Marathon Asset Management Ltd’s holdings in Gildan Activewear were worth $43,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janus Henderson Group PLC increased its position in Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after acquiring an additional 240,375 shares during the period. Simcoe Capital Management LLC increased its position in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after acquiring an additional 226,695 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Gildan Activewear by 2.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker’s stock valued at $76,244,000 after acquiring an additional 44,725 shares during the period. CIBC Asset Management Inc increased its position 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 period. Finally, Intact Investment Management Inc. increased its position in Gildan Activewear by 12.0% in the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after acquiring an additional 106,150 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $54.05 on Monday. The stock has a market cap of $8.22 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The business has a fifty day simple moving average of $50.24 and a 200-day simple moving average of $48.18. 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 Inc. has a 12 month low of $32.23 and a 12 month high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The business had revenue of $822.00 million during 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%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal 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 given a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio (DPR) is 36.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GIL. UBS Group raised their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup raised their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets lifted their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. TD Securities lifted their price target on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Buy” and a consensus target price 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.