Skandinaviska Enskilda Banken AB publ Sells 500 Shares of Gildan Activewear Inc. (NYSE:GIL)

Skandinaviska Enskilda Banken AB publ trimmed its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 27,401 shares of the textile maker’s stock after selling 500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Gildan Activewear were worth $1,268,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock worth $86,999,000 after purchasing an additional 1,588,071 shares during the period. CIBC Asset Management Inc raised its stake in shares of Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after buying an additional 1,022,695 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Gildan Activewear during the 3rd quarter valued at $24,262,000. Bahl & Gaynor Inc. grew its stake in shares of Gildan Activewear by 192.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker’s stock worth $34,918,000 after acquiring an additional 488,602 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after acquiring an additional 240,375 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $46.80 on Tuesday. The firm has a market capitalization of $7.11 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.76 and a beta of 1.39. 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 stock’s 50-day simple moving average is $50.72 and its two-hundred day simple moving average is $48.64. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39.

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). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 1.93%. Gildan Activewear’s payout ratio is 36.00%.

Analyst Upgrades and Downgrades

GIL has been the subject of a number of research reports. TD Securities increased their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup boosted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, February 20th. CIBC raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus boosted their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $60.00.

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.