Gildan Activewear Inc. (NYSE:GIL) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 24.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 791,223 shares of the textile maker’s stock after buying an additional 153,816 shares during the period. Geode Capital Management LLC owned about 0.52% of Gildan Activewear worth $37,030,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GIL. National Bank of Canada FI increased its stake in shares of Gildan Activewear by 19.5% in the 4th quarter. National Bank of Canada FI now owns 1,668,147 shares of the textile maker’s stock valued at $78,571,000 after purchasing an additional 272,627 shares in the last quarter. Summit Financial LLC purchased a new stake in shares of Gildan Activewear in the fourth quarter valued at approximately $743,000. CIBC Private Wealth Group LLC lifted its position in shares of Gildan Activewear by 1,263.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,966 shares of the textile maker’s stock valued at $327,000 after buying an additional 6,455 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock valued at $38,414,000 after acquiring an additional 723,962 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in Gildan Activewear by 6.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 43,012 shares of the textile maker’s stock valued at $2,024,000 after acquiring an additional 2,593 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

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

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (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 during the quarter, compared to analysts’ expectations of $805.75 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on GIL. Citigroup lifted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. TD Securities lifted their price objective on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. UBS Group increased 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. Canaccord Genuity Group raised their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, CIBC boosted their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gildan Activewear has an average rating of “Buy” and an average price target of $60.00.

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.