Cardinal Capital Management Inc. Has $132.07 Million Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Cardinal Capital Management Inc. lowered its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,812,686 shares of the textile maker's stock after selling 65,072 shares during the quarter. Gildan Activewear accounts for about 4.5% of Cardinal Capital Management Inc.'s portfolio, making the stock its 2nd biggest position. Cardinal Capital Management Inc. owned about 1.84% of Gildan Activewear worth $132,072,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Riverview Trust Co acquired a new stake in Gildan Activewear during the 3rd quarter worth approximately $29,000. Blue Trust Inc. increased its position in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after acquiring an additional 397 shares in the last quarter. CWM LLC raised its holdings in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after acquiring an additional 318 shares during the period. Laurus Investment Counsel Inc. bought a new stake in Gildan Activewear in the 3rd quarter valued at $203,000. Finally, Arkadios Wealth Advisors acquired a new position in Gildan Activewear in the 3rd quarter worth $212,000. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

NYSE GIL traded up $0.13 on Thursday, hitting $51.00. 346,235 shares of the stock were exchanged, compared to its average volume of 520,081. The company has a market capitalization of $7.78 billion, a PE ratio of 20.16, a P/E/G ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The business's fifty day moving average is $48.39 and its 200 day moving average is $45.82. Gildan Activewear Inc. has a 52 week low of $32.14 and a 52 week high of $51.18.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $891.10 million for the quarter, compared to analysts' expectations of $882.85 million. During the same period in the prior year, the firm earned $0.74 EPS. Gildan Activewear's quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.152 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.19%. Gildan Activewear's dividend payout ratio is currently 32.41%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GIL. CIBC lifted their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. UBS Group raised Gildan Activewear from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $60.00 in a research report on Friday, January 10th. TD Securities lifted their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Finally, Citigroup boosted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $53.35.

Gildan Activewear Profile

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.