Aquatic Capital Management LLC Purchases New Position in Gildan Activewear Inc. (NYSE:GIL)

Aquatic Capital Management LLC acquired a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 4th quarter, HoldingsChannel reports. The firm acquired 2,430 shares of the textile maker’s stock, valued at approximately $114,000.

Other large investors have also recently made changes to their positions in the company. Forge First Asset Management Inc. boosted its holdings in Gildan Activewear by 108.0% in the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock valued at $2,191,000 after acquiring an additional 24,200 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Truist Financial Corp increased its position in shares of Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock valued at $913,000 after buying an additional 8,430 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Gildan Activewear by 80.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker’s stock worth $11,568,000 after buying an additional 109,993 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Gildan Activewear by 776.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after buying an additional 723,962 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Price Performance

Shares of GIL opened at $47.77 on Tuesday. Gildan Activewear Inc. has a twelve month low of $32.32 and a twelve month high of $55.39. The company has a market capitalization of $7.24 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The firm has a 50 day moving average of $44.79 and a 200 day moving average of $47.80. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.226 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.89%. Gildan Activewear’s dividend payout ratio is currently 34.75%.

Wall Street Analysts Forecast Growth

GIL has been the topic of several research reports. TD Securities lifted their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Citigroup upped their target price 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 lifted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $58.20.

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.