Corient Private Wealth LLC Has $402,000 Holdings in Gildan Activewear Inc. (NYSE:GIL)

Corient Private Wealth LLC lessened its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 57.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,544 shares of the textile maker’s stock after selling 11,442 shares during the quarter. Corient Private Wealth LLC’s holdings in Gildan Activewear were worth $402,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Gildan Activewear during the 3rd quarter valued at approximately $544,000. Cerity Partners LLC raised its stake in shares of Gildan Activewear by 171.1% during the third quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker’s stock valued at $835,000 after acquiring an additional 11,184 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gildan Activewear during the third quarter worth $462,000. Townsquare Capital LLC acquired a new stake in shares of Gildan Activewear in the third quarter valued at about $253,000. Finally, Bridgewater Associates LP increased its position in Gildan Activewear by 84.8% during the 3rd quarter. Bridgewater Associates LP now owns 120,559 shares of the textile maker’s stock valued at $5,681,000 after purchasing an additional 55,339 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

GIL opened at $44.94 on Friday. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The firm has a market cap of $6.83 billion, a P/E ratio of 17.98, a PEG ratio of 1.76 and a beta of 1.39. The company has a 50 day simple moving average of $50.21 and a two-hundred day simple moving average of $48.66.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. Equities analysts forecast that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

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 $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a yield of 2.01%. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIL. BMO Capital Markets lifted their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup upped their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. TD Securities raised their price objective on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC increased their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock 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.