Atria Investments Inc Grows Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Atria Investments Inc lifted its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 18.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,822 shares of the textile maker’s stock after buying an additional 1,529 shares during the quarter. Atria Investments Inc’s holdings in Gildan Activewear were worth $462,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GIL. CIBC Asset Management Inc lifted its stake in 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 worth $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Gildan Activewear in the 3rd quarter worth $24,262,000. Bahl & Gaynor Inc. lifted its stake in Gildan Activewear by 192.7% in the 4th quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker’s stock worth $34,918,000 after purchasing an additional 488,602 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after purchasing an additional 240,375 shares in the last quarter. Finally, Simcoe Capital Management LLC lifted its stake in 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 purchasing an additional 226,695 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Shares of GIL stock opened at $46.53 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The company has a market capitalization of $7.08 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.76 and a beta of 1.39. The company’s 50-day simple moving average is $50.73 and its two-hundred day simple moving average is $48.60. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million during 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%. Gildan Activewear’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a $0.226 dividend. 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 1.94%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is currently 36.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a 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 report on Thursday, February 20th. UBS Group boosted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, CIBC boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $60.00.

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.