Mn Services Vermogensbeheer B.V. Sells 4,500 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Mn Services Vermogensbeheer B.V. cut its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,473 shares of the textile maker’s stock after selling 4,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Gildan Activewear were worth $2,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of Gildan Activewear by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker’s stock valued at $327,950,000 after buying an additional 128,674 shares during the period. Norges Bank bought a new position in shares of Gildan Activewear in the fourth quarter worth approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Gildan Activewear by 276.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Gildan Activewear by 19.5% in the fourth quarter. National Bank of Canada FI now owns 1,668,147 shares of the textile maker’s stock valued at $78,571,000 after purchasing an additional 272,627 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. UBS Group raised their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets raised 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. Citigroup raised their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC lowered their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Buy” and a consensus price target of $57.91.

Gildan Activewear Stock Down 1.4%

Shares of NYSE GIL opened at $47.19 on Wednesday. Gildan Activewear, Inc. has a one year low of $36.91 and a one year high of $55.39. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59. The firm’s 50 day simple moving average is $46.11 and its two-hundred day simple moving average is $47.67. The stock has a market capitalization of $7.10 billion, a P/E ratio of 18.22, a PEG ratio of 1.54 and a beta of 1.20.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. As a group, analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Tuesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

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.