Assenagon Asset Management S.A. Has $246,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Assenagon Asset Management S.A. lowered its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 22.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,224 shares of the textile maker’s stock after selling 1,477 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Gildan Activewear were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Simcoe Capital Management LLC raised its stake in Gildan Activewear by 10.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Gildan Activewear in the third quarter valued at about $544,000. Tacita Capital Inc lifted its stake in shares of Gildan Activewear by 1,025.5% in the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock valued at $615,000 after buying an additional 11,896 shares during the period. Allspring Global Investments Holdings LLC grew its position in Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock worth $5,899,000 after buying an additional 123,578 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in Gildan Activewear by 5.3% during the third quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after acquiring an additional 12,933 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 0.3 %

GIL stock opened at $51.17 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. Gildan Activewear Inc. has a fifty-two week low of $32.14 and a fifty-two week high of $51.26. The stock’s 50 day simple moving average is $48.51 and its 200 day simple moving average is $45.95. The company has a market cap of $7.80 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. On average, research analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were issued a $0.152 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.19%. Gildan Activewear’s payout ratio is currently 32.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. CIBC raised their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group raised Gildan Activewear from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $60.00 in a report on Friday, January 10th. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, TD Securities upped their price target on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.35.

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.