Nebula Research & Development LLC Takes $1.70 Million Position in Gildan Activewear Inc. (NYSE:GIL)

Nebula Research & Development LLC acquired a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 4th quarter, Holdings Channel reports. The fund acquired 36,125 shares of the textile maker’s stock, valued at approximately $1,700,000.

A number of other institutional investors also recently bought and sold shares of GIL. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the 4th quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in shares of Gildan Activewear by 61.8% in the 4th 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 period. Steward Partners Investment Advisory LLC raised its stake in Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after acquiring an additional 908 shares during the period. Finally, Rhumbline Advisers grew its stake in Gildan Activewear by 561.9% during the 4th quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after purchasing an additional 1,208 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GIL has been the subject of a number of research reports. BMO Capital Markets lifted their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. TD Securities lifted their price objective 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. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 20th. CIBC raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear has a consensus rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Price Performance

GIL stock opened at $42.47 on Friday. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The firm’s fifty day moving average is $45.86 and its 200 day moving average is $47.88. The firm has a market cap of $6.44 billion, a PE ratio of 16.99, a P/E/G ratio of 1.76 and a beta of 1.16.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its 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 business had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. On average, research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were given a $0.226 dividend. The ex-dividend date was Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.13%. Gildan Activewear’s payout ratio is 36.00%.

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.