Turtle Creek Asset Management buys $44.6 Million stake in Gildan Activewear Inc (USA) (GIL)

Gildan Activewear Inc (USA) (GIL) : Turtle Creek Asset Management scooped up 363,363 additional shares in Gildan Activewear Inc (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,519,563 shares of Gildan Activewear Inc (USA) which is valued at $44.6 Million.Gildan Activewear Inc (USA) makes up approximately 24.44% of Turtle Creek Asset Management’s portfolio.

Other Hedge Funds, Including , Her Majesty The Queen In Right Of The Province Of Alberta… boosted its stake in GIL in the latest quarter, The investment management firm added 148,700 additional shares and now holds a total of 766,800 shares of Gildan Activewear Inc (USA) which is valued at $22.5 Million. Gildan Activewear Inc (USA) makes up approx 0.34% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Shell Asset Management Co reduced its stake in GIL by selling 1,100 shares or 4.33% in the most recent quarter. The Hedge Fund company now holds 24,332 shares of GIL which is valued at $713,658. Gildan Activewear Inc (USA) makes up approx 0.02% of Shell Asset Management Co’s portfolio. Mckinley Capital Management Delaware sold out all of its stake in GIL during the most recent quarter. The investment firm sold 320 shares of GIL which is valued $9,386.New York State Common Retirement Fund boosted its stake in GIL in the latest quarter, The investment management firm added 5,000 additional shares and now holds a total of 57,000 shares of Gildan Activewear Inc (USA) which is valued at $1.7 Million. Pitcairn Co sold out all of its stake in GIL during the most recent quarter. The investment firm sold 11,447 shares of GIL which is valued $355,544.

Gildan Activewear Inc (USA) opened for trading at $28.84 and hit $29.26 on the upside on Friday, eventually ending the session at $29.1, with a gain of 1.22% or 0.35 points. The heightened volatility saw the trading volume jump to 3,61,248 shares. Company has a market cap of $6,861 M.

On the company’s financial health, Gildan Activewear Inc (USA) reported $0.28 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $593.30 million for the quarter, compared to analysts expectations of $619.72 million. The company’s revenue was down -6.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Gildan Activewear Inc (USA). Company shares were Reiterated by Stifel on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $32 .Company shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $34 .Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .

Gildan Activewear Inc. (Gildan) supplies branded basic family apparel including T-shirts fleece sport shirts underwear socks hosiery and shapewear. The Company markets its products under a diversified portfolio of Company-owned brands including the Gildan Gold Toe Anvil brands and brand extensions Secret Silks Therapy Plus and Kushyfoo as well as under licensing arrangements for the Under Armour Mossy Oak and New Balance brands. It operates in two segments Printwear and Branded Apparel. The Company owns and operates manufacturing facilities which are primarily located in Central America and the Caribbean Basin. The Company manufactures and sells apparel products in the United States Canada Europe and the Asia-Pacific region.

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