Gildan Activewear Inc. (NYSE:GIL) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd decreased its holdings in Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,882,800 shares of the textile maker’s stock after selling 574,011 shares during the quarter. Gildan Activewear comprises 2.3% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 13th largest holding. JARISLOWSKY FRASER Ltd owned 6.98% of Gildan Activewear worth $394,888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIL. Signaturefd LLC raised its position in Gildan Activewear by 39.3% in the 3rd quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after purchasing an additional 1,158 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Gildan Activewear by 120.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 900 shares during the last quarter. VELA Investment Management LLC raised its position in Gildan Activewear by 13.9% in the 3rd quarter. VELA Investment Management LLC now owns 63,527 shares of the textile maker’s stock valued at $1,779,000 after purchasing an additional 7,754 shares during the last quarter. Boston Partners raised its position in Gildan Activewear by 80.7% in the 3rd quarter. Boston Partners now owns 126,731 shares of the textile maker’s stock valued at $3,550,000 after purchasing an additional 56,600 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Gildan Activewear by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,543,772 shares of the textile maker’s stock valued at $43,241,000 after purchasing an additional 53,900 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GIL. TD Securities upped their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Citigroup upped their price objective on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Scotiabank upped their price objective on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus target price of $41.95.

View Our Latest Analysis on Gildan Activewear

Gildan Activewear Price Performance

NYSE GIL traded up $2.07 during trading hours on Monday, reaching $37.62. The company’s stock had a trading volume of 2,313,700 shares, compared to its average volume of 855,179. The stock has a market cap of $6.34 billion, a PE ratio of 12.71, a PEG ratio of 1.42 and a beta of 1.38. Gildan Activewear Inc. has a fifty-two week low of $26.98 and a fifty-two week high of $38.87. The company’s 50-day moving average is $35.58 and its two-hundred day moving average is $34.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last issued its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $695.80 million for the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. Analysts forecast that Gildan Activewear Inc. will post 2.94 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a dividend yield of 2.18%. Gildan Activewear’s dividend payout ratio is currently 27.70%.

Gildan Activewear Profile

(Free Report)

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.

Further Reading

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

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