Quantinno Capital Management LP Has $2.62 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Quantinno Capital Management LP boosted its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,630 shares of the textile maker’s stock after buying an additional 2,914 shares during the quarter. Quantinno Capital Management LP’s holdings in Gildan Activewear were worth $2,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Plato Investment Management Ltd bought a new stake in Gildan Activewear in the fourth quarter worth $28,000. Fifth Third Bancorp raised its stake in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after purchasing an additional 745 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after purchasing an additional 908 shares during the period. Finally, Rhumbline Advisers grew its holdings in Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after purchasing an additional 1,208 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Up 0.2%

Shares of GIL stock opened at $50.19 on Wednesday. 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 firm has a 50 day moving average price of $44.40 and a two-hundred day moving average price of $47.84. Gildan Activewear Inc. has a 12-month low of $35.39 and a 12-month high of $55.39. The company has a market capitalization of $7.59 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.

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

Gildan Activewear Announces Dividend

The firm 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 $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

Analysts Set New Price Targets

GIL has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets upped their target price 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. Barclays assumed coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They issued an “overweight” rating and a $51.00 price target on the stock. CIBC cut their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 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 and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $58.20.

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.