Achmea Investment Management B.V. Increases Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Achmea Investment Management B.V. lifted its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 82.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,066 shares of the textile maker’s stock after purchasing an additional 8,642 shares during the period. Achmea Investment Management B.V.’s holdings in Gildan Activewear were worth $897,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Fifth Third Bancorp lifted its position in Gildan Activewear by 61.8% during the fourth 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 last quarter. Cooper Financial Group lifted its position in Gildan Activewear by 2.1% during the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after acquiring an additional 340 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in Gildan Activewear during the fourth quarter valued at approximately $28,000. Willis Investment Counsel lifted its position in Gildan Activewear by 1.8% during the fourth quarter. Willis Investment Counsel now owns 35,167 shares of the textile maker’s stock valued at $1,655,000 after acquiring an additional 622 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Gildan Activewear by 80.1% during the fourth quarter. Blue Trust Inc. now owns 1,459 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $46.53 on Friday. The company’s fifty day moving average price is $50.73 and its 200 day moving average price is $48.60. Gildan Activewear Inc. has a 1 year low of $32.23 and a 1 year high of $55.39. The company has a market capitalization of $7.08 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. During the same period last year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.94%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GIL shares. TD Securities upped their price target 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. 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 research note on Thursday, February 20th. CIBC upped their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus upped their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets upped their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear 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.