Renaissance Technologies LLC Sells 45,500 Shares of Gildan Activewear, Inc. $GIL

Renaissance Technologies LLC lowered its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 26.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,552 shares of the textile maker’s stock after selling 45,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Gildan Activewear were worth $6,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. bought a new stake in shares of Gildan Activewear in the 4th quarter worth approximately $25,000. Islay Capital Management LLC bought a new position in shares of Gildan Activewear during the 4th quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of Gildan Activewear by 3,516.7% during the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 422 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Gildan Activewear by 14,833.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after purchasing an additional 445 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on GIL shares. Scotiabank restated a “sector outperform” rating and set a $67.00 price target (up from $65.00) on shares of Gildan Activewear in a research report on Friday. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a report on Tuesday. Scotia boosted their target price on Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $77.00 target price on shares of Gildan Activewear in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $83.00 price target on Gildan Activewear and gave the stock a “buy” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.07.

Gildan Activewear Trading Up 3.0%

NYSE:GIL opened at $56.84 on Wednesday. The firm has a market capitalization of $10.53 billion, a P/E ratio of 109.31 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15. The company has a fifty day moving average of $54.34 and a 200 day moving average of $59.34. Gildan Activewear, Inc. has a 52 week low of $46.00 and a 52 week high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $0.97 EPS. The company’s revenue was up 72.3% on a year-over-year basis. On average, research analysts predict that Gildan Activewear, Inc. will post 4.65 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be paid a $0.249 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Gildan Activewear’s dividend payout ratio (DPR) is presently 192.31%.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.