Gildan Activewear Inc. (NYSE:GIL) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,012 shares of the textile maker’s stock after buying an additional 2,593 shares during the period. Orion Portfolio Solutions LLC’s holdings in Gildan Activewear were worth $2,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its stake in shares of Gildan Activewear by 6.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 78,548 shares of the textile maker’s stock worth $3,695,000 after purchasing an additional 5,089 shares in the last quarter. Norges Bank bought a new position in Gildan Activewear in the 4th quarter valued at about $97,275,000. Homestead Advisers Corp raised its position in shares of Gildan Activewear by 18.0% during the 4th quarter. Homestead Advisers Corp now owns 102,700 shares of the textile maker’s stock worth $4,832,000 after buying an additional 15,700 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Gildan Activewear by 40.7% in the 4th quarter. JPMorgan Chase & Co. now owns 814,127 shares of the textile maker’s stock worth $38,305,000 after acquiring an additional 235,405 shares during the period. Finally, Korea Investment CORP boosted its holdings in shares of Gildan Activewear by 164.0% in the fourth quarter. Korea Investment CORP now owns 221,591 shares of the textile maker’s stock valued at $10,423,000 after acquiring an additional 137,661 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GIL has been the topic of several research analyst reports. TD Securities lifted their price target on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup lifted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets increased their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. UBS Group lifted their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Trading Up 1.1 %

Shares of Gildan Activewear stock opened at $45.54 on Thursday. The stock has a market capitalization of $6.92 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The company has a 50-day simple moving average of $49.87 and a 200 day simple moving average of $48.67.

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

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. 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.