Sei Investments Co. raised its position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,456 shares of the textile maker’s stock after buying an additional 21,149 shares during the period. Sei Investments Co. owned about 0.05% of Gildan Activewear worth $3,633,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Gildan Activewear by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,913,265 shares of the textile maker’s stock worth $121,819,000 after purchasing an additional 278,852 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Gildan Activewear during the 4th quarter worth approximately $7,267,000. Candriam Luxembourg S.C.A. acquired a new position in shares of Gildan Activewear during the 4th quarter worth approximately $4,498,000. Davidson Investment Advisors boosted its holdings in shares of Gildan Activewear by 44.0% during the 3rd quarter. Davidson Investment Advisors now owns 361,173 shares of the textile maker’s stock worth $11,297,000 after purchasing an additional 110,360 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Gildan Activewear by 73.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 187,670 shares of the textile maker’s stock worth $5,839,000 after purchasing an additional 79,252 shares during the last quarter. Institutional investors own 73.11% of the company’s stock.
Several brokerages have recently weighed in on GIL. ValuEngine upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Goldman Sachs Group restated a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a report on Friday, December 8th. Bank of America restated a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a report on Friday, December 8th. Stifel Nicolaus set a $37.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a research report on Friday, December 15th. Finally, Royal Bank of Canada set a $32.00 price target on shares of Gildan Activewear and gave the company a “hold” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $33.89.
Shares of Gildan Activewear Inc (GIL) traded down $0.02 during midday trading on Wednesday, reaching $28.89. The company’s stock had a trading volume of 195,871 shares, compared to its average volume of 466,183. The stock has a market capitalization of $6,363.60, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The company has a current ratio of 5.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.31. Gildan Activewear Inc has a 52 week low of $25.38 and a 52 week high of $34.19.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, February 22nd. The textile maker reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $653.70 million for the quarter, compared to analyst estimates of $636.62 million. Gildan Activewear had a return on equity of 18.63% and a net margin of 13.17%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. analysts predict that Gildan Activewear Inc will post 1.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 8th will be given a $0.112 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.45 dividend on an annualized basis and a yield of 1.55%. Gildan Activewear’s payout ratio is presently 27.95%.
Gildan Activewear announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 22nd that permits the company to repurchase 10,960,000 outstanding shares. This repurchase authorization permits the textile maker to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Gildan Activewear Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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