Point72 Asset Management L.P. Buys New Shares in Gildan Activewear Inc. (NYSE:GIL)

Point72 Asset Management L.P. purchased a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,200 shares of the textile maker’s stock, valued at approximately $1,374,000.

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

Analyst Ratings Changes

A number of research analysts recently commented on GIL shares. Canaccord Genuity Group upped their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup increased their price objective 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. UBS Group lifted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. TD Securities upped their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets increased their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $58.20.

Gildan Activewear Trading Down 2.6%

Shares of Gildan Activewear stock opened at $48.90 on Thursday. Gildan Activewear Inc. has a 12-month low of $35.39 and a 12-month high of $55.39. The stock has a market capitalization of $7.39 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. The company has a 50-day simple moving average of $44.45 and a 200 day simple moving average of $47.85. 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 issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Research analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be paid a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.85%. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

About Gildan Activewear

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.