Boston Partners Sells 189,231 Shares of Gildan Activewear Inc. (NYSE:GIL)

Boston Partners cut its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 39.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,287 shares of the textile maker’s stock after selling 189,231 shares during the period. Boston Partners owned approximately 0.19% of Gildan Activewear worth $13,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIL. Fifth Third Bancorp increased its holdings in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after purchasing an additional 333 shares in the last quarter. Cooper Financial Group grew its position in shares of Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after buying an additional 340 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear in the 4th quarter valued at $28,000. Willis Investment Counsel lifted its position in shares of Gildan Activewear by 1.8% during the 4th 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 period. Finally, Blue Trust Inc. boosted its stake in Gildan Activewear by 80.1% during the fourth quarter. Blue Trust Inc. now owns 1,459 shares of the textile maker’s stock worth $69,000 after acquiring an additional 649 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on GIL. Citigroup upped their price objective 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. TD Securities increased their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets raised their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. CIBC upped their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear presently has an average rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Price Performance

GIL opened at $46.01 on Friday. Gildan Activewear Inc. has a 1 year low of $32.23 and a 1 year high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.76 and a beta of 1.39. The firm’s fifty day moving average price is $50.70 and its two-hundred day moving average price is $48.61.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $805.75 million. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.96%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio is presently 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.