Virtu Financial LLC Invests $859,000 in Gildan Activewear Inc. (NYSE:GIL)

Virtu Financial LLC bought a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,984 shares of the textile maker’s stock, valued at approximately $859,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Gildan Activewear by 4.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 102,200 shares of the textile maker’s stock valued at $3,379,000 after purchasing an additional 4,700 shares in the last quarter. Onex Canada Asset Management Inc. lifted its position in shares of Gildan Activewear by 231.9% during the fourth quarter. Onex Canada Asset Management Inc. now owns 216,728 shares of the textile maker’s stock worth $7,165,000 after purchasing an additional 151,428 shares in the last quarter. Parkwood LLC purchased a new position in shares of Gildan Activewear in the fourth quarter valued at $6,789,000. Goodnow Investment Group LLC grew its holdings in Gildan Activewear by 0.6% during the 4th quarter. Goodnow Investment Group LLC now owns 296,742 shares of the textile maker’s stock valued at $9,810,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Browning West LP increased its stake in Gildan Activewear by 30.0% during the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after buying an additional 1,994,900 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th. Citigroup upped their target price on Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. TD Securities upped their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.95.

Gildan Activewear Stock Performance

NYSE GIL traded down $0.16 during trading hours on Friday, reaching $37.56. The company’s stock had a trading volume of 390,559 shares, compared to its average volume of 1,006,583. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $35.85 and a 200 day simple moving average of $34.82. The stock has a market cap of $6.33 billion, a PE ratio of 12.69, a PEG ratio of 1.43 and a beta of 1.43. Gildan Activewear Inc. has a 52 week low of $26.99 and a 52 week high of $39.07.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $695.80 million for the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Equities research analysts predict that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

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.