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

Quantbot Technologies LP bought a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 74,327 shares of the textile maker’s stock, valued at approximately $3,497,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after purchasing an additional 240,375 shares in the last quarter. Simcoe Capital Management LLC raised its holdings in Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Gildan Activewear by 604.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock worth $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Finally, Intact Investment Management Inc. raised its holdings in Gildan Activewear by 7.1% during the fourth quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker’s stock worth $49,763,000 after purchasing an additional 70,270 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Down 2.0 %

NYSE GIL opened at $45.11 on Friday. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.76 and a beta of 1.39. The firm’s 50 day moving average price is $50.64 and its two-hundred day moving average price is $48.61.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share 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 firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GIL shares. Canaccord Genuity Group boosted their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. TD Securities upped their price target on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus upped their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group upped their price target on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Citigroup upped their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $60.00.

About Gildan Activewear

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.