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

Intech Investment Management LLC cut its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,182 shares of the textile maker’s stock after selling 4,370 shares during the period. 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.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GIL. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup lifted 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 increased their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. TD Securities lifted their price objective on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the company 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 MarketBeat.com, Gildan Activewear presently has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Down 1.0 %

NYSE GIL opened at $45.11 on Wednesday. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. 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 firm has a market cap of $6.86 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39. The stock’s 50-day moving average is $50.51 and its 200-day moving average is $48.68.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced 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). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. During the same period in the previous year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio is 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.