11,552 Shares in Gildan Activewear Inc. (NYSE:GIL) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, HoldingsChannel reports. The fund bought 11,552 shares of the textile maker’s stock, valued at approximately $544,000.

Several other hedge funds have also recently modified their holdings of the business. Riverview Trust Co purchased a new position in shares of Gildan Activewear in the third quarter worth approximately $29,000. Blue Trust Inc. lifted its stake in Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Gildan Activewear during the 2nd quarter worth approximately $51,000. Tobam bought a new stake in shares of Gildan Activewear in the 2nd quarter worth about $53,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Gildan Activewear by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.1 %

NYSE GIL opened at $49.62 on Monday. The company has a market cap of $7.64 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The company has a 50-day moving average of $48.15 and a 200-day moving average of $43.03. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, equities analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CIBC raised their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Securities raised their price objective on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upped their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.85.

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.