Park West Asset Management LLC Invests $15.18 Million in Gildan Activewear Inc (GIL) Stock

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Park West Asset Management LLC purchased a new stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500,000 shares of the textile maker’s stock, valued at approximately $15,180,000. Park West Asset Management LLC owned 0.24% of Gildan Activewear at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GIL. Southpoint Capital Advisors LP bought a new stake in Gildan Activewear during the third quarter valued at about $129,327,000. Pzena Investment Management LLC bought a new stake in Gildan Activewear during the fourth quarter valued at about $60,293,000. Eaton Vance Management bought a new stake in Gildan Activewear during the third quarter valued at about $46,533,000. Nokota Management LP bought a new stake in Gildan Activewear during the third quarter valued at about $29,203,000. Finally, Federated Investors Inc. PA bought a new stake in Gildan Activewear during the third quarter valued at about $21,344,000. Institutional investors own 69.37% of the company’s stock.

NYSE GIL opened at $36.12 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.99 and a quick ratio of 1.28. Gildan Activewear Inc has a twelve month low of $25.33 and a twelve month high of $36.68. The stock has a market capitalization of $7.47 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.55 and a beta of 0.88.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, February 21st. The textile maker reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Gildan Activewear had a net margin of 12.06% and a return on equity of 20.16%. The company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $718.48 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Gildan Activewear Inc will post 2.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Thursday, March 7th will be paid a $0.134 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, March 6th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.09. Gildan Activewear’s dividend payout ratio (DPR) is presently 29.03%.

GIL has been the subject of a number of recent analyst reports. TD Securities cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a report on Thursday, February 21st. National Bank Financial restated a “hold” rating on shares of Gildan Activewear in a report on Friday, February 15th. Desjardins cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $33.98 price target for the company. in a report on Monday, February 4th. TheStreet upgraded shares of Gildan Activewear from a “c+” rating to a “b+” rating in a report on Monday, December 17th. Finally, ValuEngine cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $34.16.

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Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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