Intech Investment Management LLC Makes New Investment in Gildan Activewear Inc. (NYSE:GIL)

Intech Investment Management LLC bought a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,552 shares of the textile maker’s stock, valued at approximately $544,000.

A number of other hedge funds also recently added to or reduced their stakes in GIL. Riverview Trust Co acquired a new stake in shares of Gildan Activewear during the third quarter worth $29,000. Blue Trust Inc. grew its stake in shares of Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear during the 2nd quarter valued at $51,000. Tobam acquired a new position in shares of Gildan Activewear in the second quarter worth about $53,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after buying an additional 274 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup increased their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Securities lifted their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, CIBC upped their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average target price of $50.85.

Gildan Activewear Stock Performance

NYSE:GIL opened at $49.62 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.85 and a beta of 1.44. The stock has a fifty day moving average price of $48.15 and a 200-day moving average price of $43.03. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period last year, the company earned $0.74 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is presently 32.41%.

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.