Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lessened its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 16.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 51,773 shares of the textile maker’s stock after selling 10,086 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Gildan Activewear were worth $2,432,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Gildan Activewear during the fourth quarter valued at $28,000. Fifth Third Bancorp lifted its stake in Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after buying an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after buying an additional 745 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after buying an additional 908 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after acquiring an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GIL. CIBC raised their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Citigroup increased their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Trading Down 1.7 %

NYSE GIL opened at $46.01 on Friday. The stock has a market cap of $6.99 billion, a P/E ratio of 18.40, a PEG ratio of 1.76 and a beta of 1.39. The company’s fifty day simple moving average is $50.70 and its 200-day simple moving average is $48.61. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio is 36.00%.

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.