Candriam S.C.A. purchased a new stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,989 shares of the textile maker's stock, valued at approximately $940,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after buying an additional 1,022,695 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Gildan Activewear during the third quarter valued at approximately $24,262,000. Bahl & Gaynor Inc. increased its holdings in shares of Gildan Activewear by 192.7% during the fourth quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker's stock valued at $34,918,000 after acquiring an additional 488,602 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of 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 during the period. Finally, Simcoe Capital Management LLC lifted its holdings in shares of Gildan Activewear by 10.5% in the 3rd 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. 82.83% of the stock is currently owned by institutional investors.
GIL has been the topic of several research reports. CIBC upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. UBS Group raised their price target 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. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, TD Securities raised their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $60.00.
Check Out Our Latest Stock Analysis on GIL
Shares of Gildan Activewear stock traded down $1.25 during mid-day trading on Tuesday, hitting $47.99. 700,438 shares of the stock were exchanged, compared to its average volume of 594,953. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The company has a 50-day simple moving average of $50.71 and a 200 day simple moving average of $48.54. The company has a market capitalization of $7.30 billion, a P/E ratio of 19.20, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. Sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.88%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio is presently 36.00%.
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.
Before you consider Gildan Activewear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gildan Activewear wasn't on the list.
While Gildan Activewear currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.