Aperio Group LLC Has $4.84 Million Stake in Gildan Activewear Inc (GIL)
Aperio Group LLC lifted its stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,718 shares of the textile maker’s stock after acquiring an additional 10,624 shares during the quarter. Aperio Group LLC’s holdings in Gildan Activewear were worth $4,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of GIL. PNC Financial Services Group Inc. raised its position in shares of Gildan Activewear by 19.3% during the second quarter. PNC Financial Services Group Inc. now owns 4,733 shares of the textile maker’s stock worth $146,000 after acquiring an additional 765 shares during the last quarter. Boston Private Wealth LLC bought a new position in shares of Gildan Activewear during the third quarter worth about $201,000. Atria Investments LLC bought a new position in shares of Gildan Activewear during the fourth quarter worth about $204,000. Stifel Financial Corp bought a new position in shares of Gildan Activewear during the third quarter worth about $210,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Gildan Activewear during the second quarter worth about $220,000. Institutional investors own 71.24% of the company’s stock.
GIL has been the subject of a number of analyst reports. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Friday, October 27th. BMO Capital Markets restated a “buy” rating and set a $34.00 price objective on shares of Gildan Activewear in a research report on Friday, October 20th. ValuEngine upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Stifel Nicolaus set a $37.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Goldman Sachs Group restated a “buy” rating and set a $37.00 price objective on shares of Gildan Activewear in a research report on Friday, December 8th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $34.13.
Gildan Activewear announced that its Board of Directors has authorized a share buyback program on Thursday, November 2nd that allows the company to repurchase 4,600,000 shares. This repurchase authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is 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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