Quantinno Capital Management LP Increases Stock Holdings in Gildan Activewear, Inc. $GIL

Quantinno Capital Management LP increased its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,631 shares of the textile maker’s stock after buying an additional 16,061 shares during the period. Quantinno Capital Management LP’s holdings in Gildan Activewear were worth $6,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Caisse de depot et placement du Quebec increased its stake in shares of Gildan Activewear by 1,695.7% during the 4th quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock worth $390,539,000 after purchasing an additional 5,892,514 shares in the last quarter. Norges Bank acquired a new stake in Gildan Activewear during the 4th quarter valued at $151,018,000. Mackenzie Financial Corp increased its position in Gildan Activewear by 41.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock worth $429,382,000 after buying an additional 2,001,279 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Gildan Activewear in the fourth quarter valued at $99,870,000. Finally, Vanguard Group Inc. boosted its stake in shares of Gildan Activewear by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock valued at $472,964,000 after acquiring an additional 1,561,729 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $58.12 on Thursday. The stock has a 50 day moving average of $54.28 and a 200-day moving average of $59.30. The stock has a market cap of $10.76 billion, a P/E ratio of 111.77 and a beta of 1.11. Gildan Activewear, Inc. has a 52 week low of $46.00 and a 52 week high of $73.69. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, beating the consensus estimate of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 72.3% on a year-over-year basis. On average, analysts expect that Gildan Activewear, Inc. will post 4.68 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be issued a $0.249 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Gildan Activewear’s dividend payout ratio (DPR) is 192.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GIL. Scotia lifted their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Friday, July 31st. Scotiabank restated a “sector outperform” rating and set a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. UBS Group raised their price target on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a research report on Tuesday. Finally, TD Securities restated a “buy” rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.