8,369 Shares in Gildan Activewear Inc. (NYSE:GIL) Purchased by Haven Private LLC

Haven Private LLC purchased a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,369 shares of the textile maker’s stock, valued at approximately $394,000.

Several other large investors have also recently added to or reduced their stakes in the company. Simcoe Capital Management LLC raised its holdings in shares of Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after buying an additional 226,695 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Gildan Activewear in the 3rd quarter valued at $544,000. CIBC Asset Management Inc lifted its stake 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 purchasing an additional 1,022,695 shares during the period. Tacita Capital Inc raised its stake in Gildan Activewear by 1,025.5% during the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock worth $615,000 after buying an additional 11,896 shares during the period. Finally, Meritage Portfolio Management acquired a new stake in Gildan Activewear during the 4th quarter worth $462,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GIL shares. UBS Group lifted their price target on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. TD Securities lifted their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup boosted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” 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 stock a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $50.30 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 1-year low of $32.23 and a 1-year high of $55.39. The firm has a market capitalization of $7.65 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.76 and a beta of 1.41. The firm’s 50-day moving average price is $50.59 and its 200-day moving average price is $48.35.

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 analysts’ consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. Equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a $0.226 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a yield of 1.80%. Gildan Activewear’s 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.