Envestnet Asset Management Inc. Raises Position in Gildan Activewear, Inc. $GIL

Envestnet Asset Management Inc. lifted its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 464,925 shares of the textile maker’s stock after buying an additional 39,072 shares during the period. Envestnet Asset Management Inc. owned approximately 0.31% of Gildan Activewear worth $26,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Gildan Activewear by 49.3% in the 1st quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker’s stock worth $584,000 after purchasing an additional 4,360 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock valued at $77,838,000 after purchasing an additional 503,359 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Gildan Activewear by 2.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker’s stock worth $8,251,000 after purchasing an additional 4,714 shares during the last quarter. US Bancorp DE increased its stake in shares of Gildan Activewear by 8.0% in the second quarter. US Bancorp DE now owns 14,827 shares of the textile maker’s stock worth $730,000 after buying an additional 1,098 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Gildan Activewear by 51.4% in the second quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock worth $100,000 after buying an additional 687 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Down 0.3%

GIL stock opened at $72.19 on Friday. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $73.59. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 23.06 and a beta of 1.08. The business’s 50 day moving average price is $64.34 and its two-hundred day moving average price is $59.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays reissued an “overweight” rating and set a $70.00 price target (up previously from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. National Bank Financial increased their target price on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Scotiabank reissued an “outperform” rating on shares of Gildan Activewear in a research note on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 29th. Finally, BMO Capital Markets increased their price objective on Gildan Activewear from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $77.54.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.