Intech Investment Management LLC Has $338,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Intech Investment Management LLC cut its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 37.8% during the 4th quarter, Holdings Channel reports. The firm owned 7,182 shares of the textile maker’s stock after selling 4,370 shares during the quarter. Intech Investment Management LLC’s holdings in Gildan Activewear were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of GIL. Generali Asset Management SPA SGR acquired a new position in Gildan Activewear during the fourth quarter worth approximately $2,634,000. Thrivent Financial for Lutherans bought a new stake in Gildan Activewear in the 4th quarter valued at $6,655,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Gildan Activewear by 8.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 29,646 shares of the textile maker’s stock valued at $1,395,000 after purchasing an additional 2,361 shares during the last quarter. Intact Investment Management Inc. boosted its position in Gildan Activewear by 7.1% during the fourth quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker’s stock worth $49,763,000 after purchasing an additional 70,270 shares during the period. Finally, Achmea Investment Management B.V. increased its holdings in shares of Gildan Activewear by 82.9% in the fourth quarter. Achmea Investment Management B.V. now owns 19,066 shares of the textile maker’s stock valued at $897,000 after purchasing an additional 8,642 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Down 1.0 %

GIL opened at $45.11 on Wednesday. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a quick ratio of 0.98, a current ratio of 2.22 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 company has a 50-day simple moving average of $50.51 and a 200 day simple moving average of $48.68.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GIL. UBS Group raised their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Canaccord Genuity Group upped 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. CIBC lifted their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. BMO Capital Markets upped their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, TD Securities upped their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear currently has a consensus 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.