Sei Investments Co. lifted its position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,456 shares of the textile maker’s stock after acquiring an additional 21,149 shares during the period. Sei Investments Co. owned approximately 0.05% of Gildan Activewear worth $3,633,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GIL. Boston Private Wealth LLC acquired a new stake in shares of Gildan Activewear in the 3rd quarter valued at approximately $201,000. Atria Investments LLC acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $204,000. Stifel Financial Corp acquired a new stake in shares of Gildan Activewear in the 3rd quarter valued at approximately $210,000. River Road Asset Management LLC acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $289,000. Finally, Quantbot Technologies LP raised its position in shares of Gildan Activewear by 380.7% in the 3rd quarter. Quantbot Technologies LP now owns 11,182 shares of the textile maker’s stock valued at $349,000 after acquiring an additional 8,856 shares during the period. Institutional investors and hedge funds own 73.11% of the company’s stock.
A number of brokerages recently weighed in on GIL. Zacks Investment Research downgraded shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. DA Davidson set a $32.00 target price on shares of Gildan Activewear and gave the stock a “hold” rating in a report on Tuesday, March 6th. ValuEngine downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of Gildan Activewear in a report on Friday, February 23rd. Finally, Goldman Sachs Group restated a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a report on Friday, December 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Gildan Activewear currently has an average rating of “Hold” and a consensus price target of $33.89.
Shares of Gildan Activewear Inc (NYSE:GIL) traded down $0.02 on Wednesday, hitting $28.89. 195,871 shares of the stock traded hands, compared to its average volume of 466,183. The company has a market cap of $6,363.60, a PE ratio of 17.96, a P/E/G ratio of 1.24 and a beta of 0.91. Gildan Activewear Inc has a one year low of $25.38 and a one year high of $34.19. The company has a quick ratio of 1.40, a current ratio of 5.06 and a debt-to-equity ratio of 0.31.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, February 22nd. The textile maker reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $653.70 million during the quarter, compared to analysts’ expectations of $636.62 million. Gildan Activewear had a net margin of 13.17% and a return on equity of 18.63%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. equities research analysts forecast that Gildan Activewear Inc will post 1.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 8th will be paid a dividend of $0.112 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.09. This represents a $0.45 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, March 7th. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.95%.
Gildan Activewear declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 22nd that allows the company to buyback 10,960,000 shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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