Haven Private LLC Invests $394,000 in Gildan Activewear Inc. (NYSE:GIL)

Haven Private LLC acquired a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,369 shares of the textile maker’s stock, valued at approximately $394,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Simcoe Capital Management LLC grew its holdings in shares of Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Gildan Activewear in the third quarter worth about $544,000. CIBC Asset Management Inc lifted its position in shares of 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 valued at $57,403,000 after buying an additional 1,022,695 shares during the last quarter. Tacita Capital Inc increased its holdings in shares of Gildan Activewear by 1,025.5% during the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock valued at $615,000 after acquiring an additional 11,896 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new position in shares of Gildan Activewear during the fourth quarter valued at about $462,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

GIL stock opened at $50.30 on Friday. The company has a market capitalization of $7.65 billion, a PE ratio of 20.12, a P/E/G ratio of 1.76 and a beta of 1.41. The stock’s 50 day moving average is $50.59 and its two-hundred day moving average is $48.35. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $805.75 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm 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 an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.80%. Gildan Activewear’s payout ratio is currently 36.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Citigroup raised their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. 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. Finally, Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine investment 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 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.