CIBC Private Wealth Group LLC Has $327,000 Position in Gildan Activewear Inc. (NYSE:GIL)

CIBC Private Wealth Group LLC boosted its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 1,263.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,966 shares of the textile maker's stock after acquiring an additional 6,455 shares during the period. CIBC Private Wealth Group LLC's holdings in Gildan Activewear were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GIL. Plato Investment Management Ltd purchased a new position in shares of Gildan Activewear during the 4th quarter worth about $28,000. Fifth Third Bancorp raised its stake in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock valued at $42,000 after purchasing an additional 745 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock valued at $47,000 after purchasing an additional 908 shares during the period. Finally, Rhumbline Advisers raised its stake 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 purchasing an additional 1,208 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

GIL has been the subject of a number of recent analyst reports. TD Securities raised their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. CIBC upped their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Citigroup upped their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $60.00.

Gildan Activewear Trading Down 3.5 %

GIL stock traded down $1.43 during mid-day trading on Thursday, reaching $39.70. 257,399 shares of the stock traded hands, compared to its average volume of 643,240. 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. The company has a market cap of $6.03 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.76 and a beta of 1.16. The stock's fifty day moving average is $48.22 and its 200-day moving average is $48.34.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted 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 net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $822.00 million for the quarter, compared to analysts' expectations of $805.75 million. During the same period in the prior year, the company posted $0.75 earnings per share. Gildan Activewear's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were issued a $0.226 dividend. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.28%. Gildan Activewear's dividend payout ratio is currently 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.