Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,646 shares of the textile maker’s stock after buying an additional 2,361 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Gildan Activewear were worth $1,395,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after acquiring an additional 240,375 shares during the period. Simcoe Capital Management LLC boosted its holdings in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Gildan Activewear by 604.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after buying an additional 1,588,071 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after buying an additional 1,022,695 shares during the period. Finally, Intact Investment Management Inc. boosted its stake in shares of Gildan Activewear by 7.1% in the fourth quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker’s stock worth $49,763,000 after buying an additional 70,270 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GIL. CIBC lifted their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. UBS Group raised their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upped their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Citigroup raised their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear presently has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Down 2.0 %

Shares of Gildan Activewear stock opened at $45.11 on Friday. 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 twelve month low of $32.23 and a twelve month high of $55.39. The firm has a market capitalization of $6.86 billion, a PE ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39. The firm’s 50-day moving average price is $50.64 and its 200 day moving average price is $48.61.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business earned $0.75 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.00%. Gildan Activewear’s dividend payout ratio is presently 36.00%.

About Gildan Activewear

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.