Cooke & Bieler LP Sells 576,420 Shares of Gildan Activewear Inc. (NYSE:GIL)

Cooke & Bieler LP lessened its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,369,821 shares of the textile maker's stock after selling 576,420 shares during the quarter. Gildan Activewear accounts for about 4.2% of Cooke & Bieler LP's holdings, making the stock its biggest position. Cooke & Bieler LP owned approximately 6.14% of Gildan Activewear worth $440,850,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Simcoe Capital Management LLC increased its stake in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock valued at $112,492,000 after buying an additional 226,695 shares during the period. Intech Investment Management LLC acquired a new position in Gildan Activewear in the 3rd quarter valued at approximately $544,000. CIBC Asset Management Inc increased its stake in Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after buying an additional 1,022,695 shares during the period. Tacita Capital Inc increased its stake in shares of Gildan Activewear by 1,025.5% during the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock worth $615,000 after purchasing an additional 11,896 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Gildan Activewear by 76.8% during the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock worth $913,000 after purchasing an additional 8,430 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. BMO Capital Markets raised their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, 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. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear has an average rating of "Buy" and a consensus price target of $60.00.

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Gildan Activewear Price Performance

NYSE:GIL opened at $49.29 on Tuesday. The company has a 50-day moving average of $50.71 and a 200-day moving average of $48.54. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released 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). The business had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. Gildan Activewear's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear's dividend payout ratio (DPR) is currently 36.00%.

Gildan Activewear Company 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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