Gildan Activewear Inc (GIL) Position Reduced by Lawson Kroeker Investment Management Inc. NE
Lawson Kroeker Investment Management Inc. NE decreased its position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 267,340 shares of the textile maker’s stock after selling 16,060 shares during the period. Gildan Activewear comprises about 2.8% of Lawson Kroeker Investment Management Inc. NE’s investment portfolio, making the stock its 15th biggest holding. Lawson Kroeker Investment Management Inc. NE’s holdings in Gildan Activewear were worth $8,635,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Gildan Activewear by 18.2% during the 2nd quarter. FMR LLC now owns 12,177,081 shares of the textile maker’s stock valued at $374,195,000 after buying an additional 1,875,214 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Gildan Activewear during the 2nd quarter valued at $266,358,000. Vanguard Group Inc. boosted its stake in shares of Gildan Activewear by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,927,849 shares of the textile maker’s stock valued at $151,433,000 after buying an additional 185,026 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Gildan Activewear by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,913,265 shares of the textile maker’s stock valued at $121,819,000 after buying an additional 278,852 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Gildan Activewear by 1.1% during the 3rd quarter. Mackenzie Financial Corp now owns 1,848,210 shares of the textile maker’s stock valued at $57,812,000 after buying an additional 19,653 shares during the period. 72.89% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus set a $37.00 target price on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Goldman Sachs Group reissued a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a research note on Friday, December 8th. Royal Bank of Canada reissued a “hold” rating on shares of Gildan Activewear in a research note on Tuesday, November 7th. Finally, BMO Capital Markets lowered shares of Gildan Activewear from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $34.00 to $30.00 in a research note on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.00.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $716.40 million for the quarter, compared to the consensus estimate of $748.86 million. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. Gildan Activewear’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. equities research analysts anticipate that Gildan Activewear Inc will post 1.71 EPS for the current year.
Gildan Activewear declared that its board has authorized a share repurchase plan on Thursday, November 2nd that allows the company to buyback 4,600,000 outstanding shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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