Gildan Activewear, Inc. has recently been in the spotlight after investment management firm, Natixis Advisors L.P., reported a significant decrease in its holdings of the company’s stock. According to their most recent filing with the Securities and Exchange Commission (SEC), Natixis Advisors L.P. trimmed their position in Gildan Activewear by 72.8% during the fourth quarter of 2020. This amounts to a sale of 35,906 shares, which had a total value of $368,000 at the time of the filing.
Gildan Activewear is a well-known textile maker that specializes in printwear and branded apparel. Their product lines include activewear, underwear, socks, hosiery, legwear, as well as various accessories such as hats and bags. The company operates under several brand names including Gildan, Alstyle, American Apparel, Comfort Colors, GOLD TOE, Anvil, Secret, Silks and Peds.
Despite the recent sales by Natixis Advisors L.P., Gildan Activewear’s performance on the stock market remains strong. The company is publicly traded on both the New York Stock Exchange (NYSE) under the ticker symbol “GIL” as well as on the Toronto Stock Exchange (TSE). On Monday morning NYSE:GIL opened at $32.50 per share which falls within its one-year low-high range of $25.67-$36.29 respectively.
Analysts have noted that several key factors may be driving investor confidence in Gildan Activewear despite some fluctuations over recent years – namely its strong financial standing and diversified product line portfolio; this grants them an almost unassailable advantage over other companies with less diverse portfolios- making them more attractive for investors looking towards long-term gains .
The quick ratio measures how easily a company can pay off its current liabilities using only current assets while current ratio is the ratio of total current assets to total current liabilities; simply put, this is an important metric for investors looking at how much debt a company has relative to the value of its assets. Currently, Gildan Activewear has a quick ratio of 0.78, indicating that it can comfortably meet its short-term obligations as they come due with its readily available cash and equivalents. The company also boasts an impressive current ratio of 2.69 affirming their solvency.
Lastly, Gildan Activewear has exhibited strong fundamentals such as sound financial management practices backed up by its low-debt-to-equity ratio of 0.46- meaning that it maintains significant flexibility even in tough economic conditions or in times of high turbulence.
Overall, despite the six-figure sale made by Natixis Advisors L.P., investors continue to have faith in Gildan Activewear’s future prospects on the stock market – with some betting on what may result in huge payout days later down the line just like a few had struck gold during some monumental moments in history while others remain more conservative in their approach, eyeing more short-term wins . Only time will tell who is right but one thing remains certain: Gildan Activewear Inc.’s brand name reputation and solid financial standing make it an appealing prospect to invest any amount into long-term growth potential.
Hedge Fund Activity and Financial Performance of Gildan Activewear Inc.
Gildan Activewear, Inc. is a renowned manufacturer and supplier of branded apparel and printwear, offering a wide range of high-quality products such as activewear, hosiery, socks, underwear, legwear and more. The company has been in the industry for many years and consistently strives to maintain their position as a leading player in the market.
Recently, several hedge funds have made changes to their positions in Gildan Activewear. For instance, Addison Advisors LLC increased its position in Gildan Activewear by 311.9% during the third quarter and now owns 1,071 shares valued at $30,000 after acquiring an additional 811 shares within the period. Lazard Asset Management LLC acquired new shares during the same period valued at $46,000 while Jones Financial Companies Lllp increased its position by 1,432% and Tower Research Capital LLC TRC following suit with a new position valued at $106,000.
It is worth noting that PNC Financial Services Group Inc. also increased its position by 36.1%, owning over 3K shares of the textile maker’s stock valued at $127K after acquiring an additional 896 shares within the period last year. In total about 75% of the stock belongs to hedge funds and institutional investors.
Several analysts have offer various perspectives on trading Gildan Activewear recently including National Bank Financial increasing their price target from C$45 to C$46 whilst StockNews.com hold position on the stock with issuesing a “hold” rating instead of buy or sell rating.
Despite missing market expectations for Q4 earnings last February with reported EPS coming in below estimates value of $0.65 rather than estimated value of $0.66 per share this was still down only slightly from earnings per share figures for Q4 last year ($0.76). However revenue was down an average of 8.2% on a year-on-year basis. Equities analysts anticipate that overall for the full fiscal year they expect Gildan Activewear will post an EPS of 2.9 putting them back into favour to those wanting to purchase company shares backed up by strong financial performance.
Lastly, investors were paid a quarterly dividend which was issued on April 10th and represents an annualized basis of $0.56 per share with a yield of 1.72%. Record dates for the dividend had already passed but Gildan Activewear Inc still remains transparent with its dividend payout ratio currently at an impressive 25.26%.