Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 7.0% in the third quarter, HoldingsChannel.com reports. The fund owned 637,407 shares of the textile maker’s stock after acquiring an additional 41,735 shares during the quarter. Geode Capital Management LLC’s holdings in Gildan Activewear were worth $29,708,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Gildan Activewear during the third quarter worth about $29,000. Blue Trust Inc. lifted its stake in Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Gildan Activewear in the 2nd quarter valued at $51,000. Tobam acquired a new stake in shares of Gildan Activewear in the second quarter worth $53,000. Finally, CWM LLC raised its holdings in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $47.22 on Friday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.82 and a beta of 1.40. The company’s fifty day moving average price is $48.54 and its 200 day moving average price is $44.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.60.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.152 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.29%. Gildan Activewear’s payout ratio is currently 32.41%.

Analyst Ratings Changes

Several research firms have commented on GIL. Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus upped their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Securities lifted their price target on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. CIBC upped their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

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.