Bridgewater Associates LP Has $5.68 Million Holdings in Gildan Activewear Inc. (NYSE:GIL)

Bridgewater Associates LP raised its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 84.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,559 shares of the textile maker’s stock after buying an additional 55,339 shares during the period. Bridgewater Associates LP owned 0.08% of Gildan Activewear worth $5,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Townsquare Capital LLC acquired a new position in Gildan Activewear in the third quarter valued at about $253,000. DRW Securities LLC bought a new position in shares of Gildan Activewear in the third quarter worth about $1,663,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Gildan Activewear in the third quarter worth about $462,000. Cerity Partners LLC raised its stake in shares of Gildan Activewear by 171.1% in the third quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker’s stock worth $835,000 after acquiring an additional 11,184 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Gildan Activewear in the third quarter worth about $544,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIL. BMO Capital Markets boosted their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. CIBC boosted their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.85.

Gildan Activewear Stock Up 0.1 %

Shares of NYSE:GIL opened at $49.62 on Friday. Gildan Activewear Inc. has a 52 week low of $30.68 and a 52 week high of $50.58. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The company has a market capitalization of $7.64 billion, a PE ratio of 19.61, a PEG ratio of 1.85 and a beta of 1.44. The company has a 50 day moving average price of $48.15 and a two-hundred day moving average price of $42.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s payout ratio is presently 32.41%.

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.