Envestnet Asset Management Inc. Has $16.33 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Envestnet Asset Management Inc. raised its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,132 shares of the textile maker’s stock after buying an additional 40,416 shares during the period. Envestnet Asset Management Inc. owned 0.23% of Gildan Activewear worth $16,333,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the last quarter. Cooper Financial Group raised its position in Gildan Activewear by 2.1% in the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 340 shares during the last quarter. Huntington National Bank boosted its stake in shares of Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 395 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Gildan Activewear by 19.1% during the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker’s stock worth $144,000 after purchasing an additional 492 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GIL. TD Securities upped their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. CIBC increased 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. Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Citigroup increased their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, UBS Group upped their target price on Gildan Activewear from $60.00 to $69.00 and gave the company 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, the company has an average rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $41.21 on Wednesday. The firm has a market capitalization of $6.24 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.76 and a beta of 1.16. The firm’s 50-day moving average price is $47.36 and its 200-day moving average price is $48.18. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $55.39.

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

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is 36.00%.

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.