Janus Henderson Group PLC Increases Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Janus Henderson Group PLC lifted its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,970,246 shares of the textile maker’s stock after buying an additional 128,674 shares during the period. Janus Henderson Group PLC’s holdings in Gildan Activewear were worth $327,950,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Gildan Activewear during the fourth quarter valued at approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Gildan Activewear by 604.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after buying an additional 1,588,071 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after buying an additional 1,300,121 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Gildan Activewear by 19.5% during the fourth quarter. National Bank of Canada FI now owns 1,668,147 shares of the textile maker’s stock valued at $78,571,000 after buying an additional 272,627 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Gildan Activewear by 5.7% during the fourth quarter. Bank of Montreal Can now owns 1,625,963 shares of the textile maker’s stock valued at $76,423,000 after buying an additional 87,672 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GIL shares. UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup lifted their price target on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price target on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Barclays initiated coverage on Gildan Activewear in a report on Monday, April 28th. They set an “overweight” rating and a $51.00 price target on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $58.20.

Gildan Activewear Stock Performance

Shares of GIL opened at $47.21 on Monday. The firm has a market cap of $7.15 billion, a PE ratio of 18.88, a PEG ratio of 1.76 and a beta of 1.21. The stock’s fifty day moving average price is $44.32 and its two-hundred day moving average price is $47.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. Gildan Activewear Inc. has a 1 year low of $33.66 and a 1 year high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. On average, equities research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.91%. Gildan Activewear’s payout ratio is presently 34.75%.

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.