Wellington Management Group LLP cut its stake in Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 6.6% in the fourth quarter, Holdings Channel reports. The fund owned 27,757 shares of the textile maker’s stock after selling 1,967 shares during the period. Wellington Management Group LLP’s holdings in Gildan Activewear were worth $1,306,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in shares of Gildan Activewear in the fourth quarter valued at about $28,000. Fifth Third Bancorp grew its stake in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after buying an additional 333 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of 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 buying an additional 745 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after buying 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 last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Canaccord Genuity Group lifted their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” 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 stock a “buy” rating in a report on Thursday, February 20th. Finally, CIBC lifted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $60.00.
Gildan Activewear Stock Up 3.4 %
Shares of NYSE:GIL opened at $41.54 on Monday. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. The firm’s 50 day moving average price is $47.80 and its 200 day moving average price is $48.27. 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 $6.31 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last released its quarterly earnings data 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). The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. Gildan Activewear’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, equities research analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.
Gildan Activewear Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th were paid a $0.226 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 2.18%. The ex-dividend date was Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is currently 36.00%.
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.
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