Renaissance Group LLC Cuts Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Renaissance Group LLC reduced its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,034 shares of the textile maker’s stock after selling 3,577 shares during the period. Renaissance Group LLC owned 0.10% of Gildan Activewear worth $6,881,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares in the last quarter. Cooper Financial Group grew its stake in Gildan Activewear by 2.1% in the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after purchasing an additional 340 shares during the period. Huntington National Bank lifted its position in 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 buying an additional 395 shares during the period. TD Private Client Wealth LLC boosted its stake in 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 acquiring an additional 492 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

GIL has been the topic of several analyst reports. BMO Capital Markets boosted their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup lifted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, TD Securities raised their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Down 1.7 %

Shares of Gildan Activewear stock opened at $39.09 on Tuesday. 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 company has a fifty day moving average of $49.22 and a 200 day moving average of $48.57. The company has a market capitalization of $5.94 billion, a P/E ratio of 15.63, a P/E/G 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 results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.226 per share. The ex-dividend date was Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a yield of 2.31%. Gildan Activewear’s dividend payout ratio 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.