Bank of America Corp DE lessened its holdings in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,006,383 shares of the textile maker’s stock after selling 76,861 shares during the quarter. Bank of America Corp DE owned approximately 0.49% of Gildan Activewear worth $30,552,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC lifted its position in Gildan Activewear by 182.8% in the third quarter. Renaissance Technologies LLC now owns 173,900 shares of the textile maker’s stock valued at $5,292,000 after buying an additional 112,400 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC acquired a new position in Gildan Activewear in the fourth quarter valued at about $551,000. CIBC Asset Management Inc lifted its position in Gildan Activewear by 4.1% in the fourth quarter. CIBC Asset Management Inc now owns 148,265 shares of the textile maker’s stock valued at $4,502,000 after buying an additional 5,841 shares during the last quarter. Grandeur Peak Global Advisors LLC lifted its position in Gildan Activewear by 66.8% in the third quarter. Grandeur Peak Global Advisors LLC now owns 849,063 shares of the textile maker’s stock valued at $25,834,000 after buying an additional 340,100 shares during the last quarter. Finally, Pictet Asset Management Ltd. acquired a new position in Gildan Activewear in the third quarter valued at about $3,350,000. 70.37% of the stock is currently owned by institutional investors.
Shares of GIL stock traded down $0.05 during trading hours on Monday, hitting $37.00. The stock had a trading volume of 341,882 shares, compared to its average volume of 540,002. The company has a market capitalization of $7.65 billion, a P/E ratio of 19.89, a PEG ratio of 1.57 and a beta of 0.88. Gildan Activewear Inc has a twelve month low of $25.33 and a twelve month high of $37.27. The company has a current ratio of 3.99, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 7th were issued a dividend of $0.134 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.09. This represents a $0.54 annualized dividend and a dividend yield of 1.45%. Gildan Activewear’s dividend payout ratio (DPR) is currently 29.03%.
A number of research analysts have commented on the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $40.00 target price on shares of Gildan Activewear in a research report on Thursday, March 28th. Royal Bank of Canada cut their price target on shares of Gildan Activewear from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 27th. Zacks Investment Research lowered shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. ValuEngine upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Finally, TD Securities lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a research note on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Gildan Activewear currently has a consensus rating of “Hold” and a consensus target price of $34.00.
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About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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