Envestnet Portfolio Solutions Inc. Purchases 2,361 Shares of Gildan Activewear Inc. (NYSE:GIL)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,646 shares of the textile maker’s stock after purchasing an additional 2,361 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Gildan Activewear were worth $1,395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Intact Investment Management Inc. grew its stake in shares of Gildan Activewear by 7.1% during the fourth quarter. Intact Investment Management Inc. now owns 1,057,520 shares of the textile maker’s stock valued at $49,763,000 after buying an additional 70,270 shares during the last quarter. Achmea Investment Management B.V. increased its stake in Gildan Activewear by 82.9% in the fourth quarter. Achmea Investment Management B.V. now owns 19,066 shares of the textile maker’s stock worth $897,000 after purchasing an additional 8,642 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Gildan Activewear by 604.1% in the fourth 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. Forge First Asset Management Inc. boosted its stake in shares of Gildan Activewear by 108.0% during 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 purchasing an additional 24,200 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Gildan Activewear by 185.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the textile maker’s stock valued at $115,000 after purchasing an additional 1,594 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GIL. TD Securities lifted their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th. 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 note on Thursday, February 20th. UBS Group boosted their price target on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus raised their price objective on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, CIBC upped their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Trading Down 2.0 %

GIL opened at $45.11 on Friday. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The stock has a fifty day moving average price of $50.64 and a 200-day moving average price of $48.61. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.76 and a beta of 1.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be given a $0.226 dividend. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.00%. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

About Gildan Activewear

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.