Gildan Activewear Inc. (NYSE:GIL) Position Increased by Boston Partners

Boston Partners raised its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 217.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,910 shares of the textile maker’s stock after purchasing an additional 245,119 shares during the quarter. Boston Partners owned approximately 0.21% of Gildan Activewear worth $13,281,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC raised its holdings in Gildan Activewear by 86.5% during the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares in the last quarter. Natixis acquired a new position in Gildan Activewear during the first quarter valued at approximately $51,000. UniSuper Management Pty Ltd lifted its stake in shares of Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after buying an additional 900 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Gildan Activewear by 529.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after buying an additional 1,863 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Gildan Activewear in the 1st quarter valued at $84,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIL has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group increased their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and lifted their price target for the stock from $39.00 to $51.00 in a research report on Friday. Royal Bank of Canada increased their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets boosted their target price on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.50.

Gildan Activewear Price Performance

NYSE GIL traded up $0.05 on Friday, reaching $41.34. The company’s stock had a trading volume of 974,579 shares, compared to its average volume of 478,707. The firm has a market cap of $6.85 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. Gildan Activewear Inc. has a 52 week low of $26.99 and a 52 week high of $42.00. The business has a 50-day moving average price of $38.55 and a 200 day moving average price of $36.09.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a return on equity of 24.62% and a net margin of 13.01%. Gildan Activewear’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. Sell-side analysts expect that Gildan Activewear Inc. will post 2.95 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s payout ratio is 27.70%.

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.