Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,083,486 shares of the textile maker’s stock after selling 323,904 shares during the period. Vanguard Group Inc. owned 3.99% of Gildan Activewear worth $286,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GIL. Plato Investment Management Ltd acquired a new stake in shares of Gildan Activewear in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after buying an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 908 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after acquiring an additional 1,208 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GIL. CIBC boosted their target price 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. TD Securities upped their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup raised their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group raised their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Stock Down 4.8 %

Shares of NYSE GIL opened at $39.78 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $6.05 billion, a PE ratio of 15.91, a P/E/G ratio of 1.76 and a beta of 1.39. The firm has a fifty day moving average of $49.46 and a 200-day moving average of $48.58. 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 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s payout ratio is currently 36.00%.

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.