Boston Partners Reduces Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Boston Partners decreased its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 39.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 291,287 shares of the textile maker’s stock after selling 189,231 shares during the period. Boston Partners’ holdings in Gildan Activewear were worth $13,712,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Generali Asset Management SPA SGR purchased a new stake in shares of Gildan Activewear in the fourth quarter worth about $2,634,000. Thrivent Financial for Lutherans bought a new position in Gildan Activewear in the 4th quarter valued at $6,655,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Gildan Activewear by 8.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 29,646 shares of the textile maker’s stock valued at $1,395,000 after purchasing an additional 2,361 shares in the last quarter. Intact Investment Management Inc. increased its holdings in shares of 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 position in shares of Gildan Activewear by 82.9% in the fourth quarter. Achmea Investment Management B.V. now owns 19,066 shares of the textile maker’s stock worth $897,000 after buying an additional 8,642 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GIL has been the subject of several recent analyst reports. CIBC boosted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. TD Securities raised their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, UBS Group upped their target price 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. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Gildan Activewear has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Down 1.7 %

GIL opened at $46.01 on Friday. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The business’s 50-day moving average price is $50.70 and its 200-day moving average price is $48.61. The company has a market cap of $6.99 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.76 and a beta of 1.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly 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 analysts’ expectations 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 for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.96%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio is presently 36.00%.

Gildan Activewear 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.