74,327 Shares in Gildan Activewear Inc. (NYSE:GIL) Bought by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,327 shares of the textile maker’s stock, valued at approximately $3,497,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the 4th quarter worth $28,000. Fifth Third Bancorp lifted its position in Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after acquiring an additional 908 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Gildan Activewear by 561.9% during the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after acquiring an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

NYSE:GIL opened at $45.11 on Friday. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-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 firm has a market capitalization of $6.86 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The firm has a 50-day moving average price of $50.64 and a 200 day moving average price of $48.61.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same period last year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 2.00%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is currently 36.00%.

Analyst Ratings Changes

A number of research analysts have weighed in on GIL shares. CIBC boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Citigroup boosted their target price on shares of Gildan Activewear from $59.00 to $62.00 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. UBS Group upped their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average 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.