USS Investment Management Ltd Reduces Position in Gildan Activewear Inc. (NYSE:GIL)

USS Investment Management Ltd cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 61.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,399 shares of the textile maker’s stock after selling 36,784 shares during the period. USS Investment Management Ltd’s holdings in Gildan Activewear were worth $1,100,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear in the fourth quarter worth $28,000. Fifth Third Bancorp lifted its holdings in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after acquiring an additional 745 shares during the period. Venturi Wealth Management LLC lifted its holdings in Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 908 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after acquiring an additional 1,208 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Up 0.1%

GIL stock opened at $48.99 on Friday. Gildan Activewear Inc. has a twelve month low of $35.56 and a twelve month high of $55.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a market cap of $7.40 billion, a P/E ratio of 19.59, a PEG ratio of 1.76 and a beta of 1.21. The business’s 50-day moving average price is $44.54 and its 200-day moving average price is $47.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $715.29 million. During the same period in the previous year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.85%. Gildan Activewear’s payout ratio is currently 34.75%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GIL. CIBC lowered their target price on Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. TD Securities increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. UBS Group increased their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Citigroup increased their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Barclays began coverage on Gildan Activewear in a report on Monday, April 28th. They issued an “overweight” rating and a $51.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Gildan Activewear presently has an average rating of “Buy” and a consensus price target of $58.20.

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.