Russell Investments Group Ltd. Sells 82,037 Shares of Gildan Activewear Inc. (NYSE:GIL)

Russell Investments Group Ltd. lowered its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 15.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 464,620 shares of the textile maker’s stock after selling 82,037 shares during the period. Russell Investments Group Ltd.’s holdings in Gildan Activewear were worth $15,380,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Syon Capital LLC acquired a new position in shares of Gildan Activewear during the 4th quarter worth $219,000. Duality Advisers LP acquired a new position in shares of Gildan Activewear during the fourth quarter worth $301,000. CWM LLC grew its stake in shares of Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after purchasing an additional 498 shares during the last quarter. Signaturefd LLC increased its holdings in Gildan Activewear by 30.7% in the fourth quarter. Signaturefd LLC now owns 5,364 shares of the textile maker’s stock valued at $177,000 after purchasing an additional 1,260 shares during the period. Finally, Verdence Capital Advisors LLC bought a new position in Gildan Activewear during the 4th quarter worth $380,000. 82.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on GIL shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup raised their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Finally, CIBC lifted their target price on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Trading Down 1.3 %

NYSE:GIL opened at $33.10 on Friday. The firm has a fifty day simple moving average of $35.51 and a two-hundred day simple moving average of $33.99. Gildan Activewear Inc. has a 12 month low of $26.98 and a 12 month high of $38.87. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.31 and a beta of 1.38. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. Gildan Activewear had a return on equity of 23.89% and a net margin of 16.14%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. Analysts expect that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, May 22nd. Gildan Activewear’s payout ratio is presently 27.70%.

Gildan Activewear Company 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.