Wellington Management Group LLP Sells 1,967 Shares of Gildan Activewear Inc. (NYSE:GIL)

Wellington Management Group LLP cut its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,757 shares of the textile maker’s stock after selling 1,967 shares during the period. Wellington Management Group LLP’s holdings in Gildan Activewear were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in Gildan Activewear during the fourth quarter valued at $28,000. Fifth Third Bancorp lifted its stake in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after purchasing an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after buying an additional 745 shares during the period. Venturi Wealth Management LLC raised its holdings 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 worth $47,000 after buying an additional 908 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Gildan Activewear by 561.9% during the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after acquiring an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIL. BMO Capital Markets upped their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Citigroup increased their price target on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. CIBC lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, TD Securities lifted their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear presently has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Stock Up 3.4 %

Shares of NYSE GIL opened at $41.54 on Monday. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The company’s 50-day simple moving average is $47.80 and its 200-day simple moving average is $48.27. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. 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 earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same period in the previous year, the company earned $0.75 EPS. Gildan Activewear’s revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were paid a $0.226 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) 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.