Gildan Activewear, Inc. $GIL Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,326 shares of the textile maker’s stock after selling 7,995 shares during the period. Candriam S.C.A. owned about 0.08% of Gildan Activewear worth $6,779,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its holdings in shares of Gildan Activewear by 61.9% in the second quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock valued at $218,622,000 after purchasing an additional 1,695,329 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Gildan Activewear by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock worth $180,305,000 after purchasing an additional 718,896 shares in the last quarter. Norges Bank acquired a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $101,409,000. Goldman Sachs Group Inc. lifted its stake in Gildan Activewear by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock valued at $77,838,000 after buying an additional 503,359 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Gildan Activewear by 40.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,579,620 shares of the textile maker’s stock valued at $77,885,000 after buying an additional 454,327 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GIL. Weiss Ratings reissued a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 29th. Barclays reissued an “overweight” rating and issued a $70.00 target price (up previously from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. UBS Group restated a “buy” rating and issued a $110.00 target price (up from $80.00) on shares of Gildan Activewear in a report on Tuesday, December 16th. TD Securities reiterated a “buy” rating and set a $77.00 price target on shares of Gildan Activewear in a report on Tuesday, January 27th. Finally, National Bankshares upped their price objective on shares of Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.54.

Gildan Activewear Price Performance

GIL opened at $71.99 on Wednesday. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $73.05. The company’s 50 day simple moving average is $63.76 and its 200 day simple moving average is $59.06. The stock has a market capitalization of $13.33 billion, a PE ratio of 23.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01.

Gildan Activewear Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.