Russell Investments Group Ltd. Sells 82,037 Shares of Gildan Activewear Inc. (NYSE:GIL)

Russell Investments Group Ltd. cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 464,620 shares of the textile maker’s stock after selling 82,037 shares during the period. Russell Investments Group Ltd. owned 0.27% of Gildan Activewear worth $15,380,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Gildan Activewear during the fourth quarter worth approximately $34,456,000. Strs Ohio boosted its holdings in Gildan Activewear by 443.6% in the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock valued at $19,547,000 after purchasing an additional 480,000 shares during the period. Mackenzie Financial Corp boosted its holdings in Gildan Activewear by 1.1% in the 4th quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock valued at $89,732,000 after purchasing an additional 29,193 shares during the period. Vanguard Group Inc. grew its position in Gildan Activewear by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock worth $179,293,000 after purchasing an additional 97,924 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in shares of Gildan Activewear by 39.3% during the 3rd quarter. Intact Investment Management Inc. now owns 100,300 shares of the textile maker’s stock worth $2,811,000 after purchasing an additional 28,300 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

NYSE GIL opened at $33.10 on Friday. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.31 and a beta of 1.38. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Gildan Activewear Inc. has a 1-year low of $26.98 and a 1-year high of $38.87. The company has a 50 day moving average of $35.51 and a 200-day moving average of $33.99.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a return on equity of 23.89% and a net margin of 16.14%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. On average, equities analysts forecast that Gildan Activewear Inc. will post 2.94 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.48%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group cut Gildan Activewear from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $37.00 in a research report on Friday, January 5th. TD Securities raised their target price on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.95.

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.