Mn Services Vermogensbeheer B.V. decreased its holdings in Gildan Activewear, Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,473 shares of the textile maker’s stock after selling 4,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Gildan Activewear were worth $2,408,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Forge First Asset Management Inc. lifted its stake in Gildan Activewear by 108.0% in the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock worth $2,191,000 after acquiring an additional 24,200 shares during the period. Polar Asset Management Partners Inc. lifted its stake in Gildan Activewear by 55.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker’s stock worth $1,244,000 after acquiring an additional 9,450 shares during the period. Shell Asset Management Co. lifted its stake in Gildan Activewear by 250.0% in the fourth quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker’s stock worth $1,304,000 after acquiring an additional 19,800 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Gildan Activewear by 262.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker’s stock worth $2,138,000 after acquiring an additional 32,911 shares during the period. Finally, Truist Financial Corp lifted its stake in Gildan Activewear by 76.8% in the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock worth $913,000 after acquiring an additional 8,430 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.
Gildan Activewear Price Performance
Shares of NYSE:GIL opened at $47.19 on Wednesday. Gildan Activewear, Inc. has a 1-year low of $36.91 and a 1-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 business has a fifty day moving average price of $46.11 and a 200-day moving average price of $47.67. The company has a market capitalization of $7.10 billion, a PE ratio of 18.22, a PEG ratio of 1.54 and a beta of 1.20.
Gildan Activewear Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.226 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.92%. Gildan Activewear’s payout ratio is presently 34.75%.
Analyst Upgrades and Downgrades
GIL has been the subject of a number of research analyst reports. Barclays initiated coverage on Gildan Activewear in a research note on Monday, April 28th. They issued an “overweight” rating and a $51.00 price target for the company. Canaccord Genuity Group increased their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Scotiabank upgraded Gildan Activewear to a “strong-buy” rating and set a $55.00 price objective for the company in a report on Wednesday, May 28th. Citigroup increased their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, TD Securities increased their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Buy” and an average price target of $57.91.
Check Out Our Latest Report on GIL
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.
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