Cibc World Market Inc. Sells 63,749 Shares of Gildan Activewear Inc. (NYSE:GIL)

Cibc World Market Inc. trimmed its holdings in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 981,263 shares of the textile maker's stock after selling 63,749 shares during the period. Cibc World Market Inc. owned about 0.64% of Gildan Activewear worth $46,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of GIL. Fortis Group Advisors LLC increased its holdings in Gildan Activewear by 3.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker's stock worth $311,000 after acquiring an additional 246 shares during the last quarter. CWM LLC boosted its stake in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after purchasing an additional 318 shares during the period. Fifth Third Bancorp boosted 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 worth $41,000 after purchasing an additional 333 shares during the period. Cooper Financial Group boosted its position in shares of Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker's stock valued at $765,000 after acquiring an additional 340 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock valued at $38,000 after purchasing an additional 397 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $52.40 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.70 and a beta of 1.41. The stock's fifty day simple moving average is $48.67 and its 200 day simple moving average is $46.25. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $52.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, sell-side analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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