JPMorgan Chase & Co. Has $38.31 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

JPMorgan Chase & Co. grew its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 40.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 814,127 shares of the textile maker’s stock after buying an additional 235,405 shares during the period. JPMorgan Chase & Co.’s holdings in Gildan Activewear were worth $38,305,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GIL. Fifth Third Bancorp increased its stake in Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after buying an additional 333 shares during the period. Cooper Financial Group grew its holdings in shares of Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after acquiring an additional 340 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Gildan Activewear by 19.1% in 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 during the last quarter. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear in the fourth quarter worth $28,000. Finally, Willis Investment Counsel raised its holdings in shares of Gildan Activewear by 1.8% during the fourth quarter. Willis Investment Counsel now owns 35,167 shares of the textile maker’s stock worth $1,655,000 after acquiring an additional 622 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIL. Canaccord Genuity Group boosted their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. CIBC raised their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, TD Securities increased their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gildan Activewear has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Trading Down 4.8 %

Shares of GIL stock opened at $39.78 on Monday. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The company has a market cap of $6.05 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $49.46 and its two-hundred day moving average is $48.62.

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

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s payout ratio is currently 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.