Skandinaviska Enskilda Banken AB publ Has $1.27 Million Position in Gildan Activewear Inc. (NYSE:GIL)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,401 shares of the textile maker’s stock after selling 500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Gildan Activewear were worth $1,268,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the last quarter. Cooper Financial Group raised its position in Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after purchasing an additional 340 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the 4th quarter worth about $28,000. Willis Investment Counsel increased its stake in shares of Gildan Activewear by 1.8% in the fourth quarter. Willis Investment Counsel now owns 35,167 shares of the textile maker’s stock valued at $1,655,000 after buying an additional 622 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Gildan Activewear by 80.1% during the fourth quarter. Blue Trust Inc. now owns 1,459 shares of the textile maker’s stock worth $69,000 after acquiring an additional 649 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Up 0.6 %

GIL stock opened at $46.80 on Tuesday. The stock’s 50 day moving average is $50.72 and its 200-day moving average is $48.64. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. The firm has a market capitalization of $7.11 billion, a PE ratio of 18.72, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released 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 firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GIL. BMO Capital Markets increased their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. UBS Group increased their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock 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 company a “buy” rating in a report on Thursday, February 20th. CIBC increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Citigroup boosted their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Buy” and an average target price 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.