Twinbeech Capital LP Invests $206,000 in Gildan Activewear Inc. (NYSE:GIL)

Twinbeech Capital LP bought a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 4th quarter, Holdings Channel.com reports. The fund bought 4,383 shares of the textile maker’s stock, valued at approximately $206,000.

Other hedge funds also recently made changes to their positions in the company. Forge First Asset Management Inc. boosted its position in shares of Gildan Activewear by 108.0% during the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock worth $2,191,000 after acquiring an additional 24,200 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after acquiring an additional 1,022,695 shares in the last quarter. Truist Financial Corp boosted its position in shares of Gildan Activewear by 76.8% during the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock worth $913,000 after acquiring an additional 8,430 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Gildan Activewear by 80.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker’s stock worth $11,568,000 after acquiring an additional 109,993 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after acquiring an additional 723,962 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Up 0.1%

GIL opened at $48.99 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.76 and a beta of 1.21. Gildan Activewear Inc. has a twelve month low of $35.51 and a twelve month high of $55.39. The company’s 50-day moving average price is $44.54 and its two-hundred day moving average price is $47.84.

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

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear’s payout ratio is currently 34.75%.

Analyst Ratings Changes

Several analysts recently issued reports on GIL shares. UBS Group increased their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. CIBC reduced their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup raised their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Barclays assumed coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They issued an “overweight” rating and a $51.00 target price on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $58.20.

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.