Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,716 shares of the textile maker’s stock after buying an additional 4,069 shares during the period. Quantinno Capital Management LP’s holdings in Gildan Activewear were worth $2,483,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GIL. Intact Investment Management Inc. increased its position in Gildan Activewear by 204.8% in the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock worth $33,416,000 after buying an additional 591,980 shares during the period. EdgePoint Investment Group Inc. increased its holdings in shares of Gildan Activewear by 28.0% during the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after purchasing an additional 407,113 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after purchasing an additional 377,135 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after purchasing an additional 324,304 shares during the period. Finally, Cooke & Bieler LP increased its holdings in shares of Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after purchasing an additional 271,273 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Up 0.9 %

Shares of Gildan Activewear stock opened at $48.27 on Wednesday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.80 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.60. The stock has a 50-day simple moving average of $48.43 and a 200-day simple moving average of $43.68.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period last year, the business earned $0.74 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s payout ratio is 32.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GIL shares. Canaccord Genuity Group lifted their target price on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities lifted their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. CIBC increased their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup increased their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus increased their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.05.

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.