BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Holdings in Gildan Activewear Inc. (NYSE:GIL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 106.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,573 shares of the textile maker's stock after purchasing an additional 25,050 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Gildan Activewear were worth $2,286,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GIL. Tidal Investments LLC acquired a new position in shares of Gildan Activewear in the first quarter worth approximately $397,000. EverSource Wealth Advisors LLC lifted its position in shares of Gildan Activewear by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker's stock worth $66,000 after purchasing an additional 274 shares during the period. Cooper Financial Group boosted its stake in shares of Gildan Activewear by 7.6% in the 2nd quarter. Cooper Financial Group now owns 22,422 shares of the textile maker's stock valued at $850,000 after purchasing an additional 1,592 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Gildan Activewear by 9.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 27,857 shares of the textile maker's stock valued at $1,056,000 after purchasing an additional 2,512 shares during the last quarter. Finally, ARS Investment Partners LLC increased its position in shares of Gildan Activewear by 34.5% during the second quarter. ARS Investment Partners LLC now owns 141,439 shares of the textile maker's stock worth $5,363,000 after buying an additional 36,304 shares during the period. Institutional investors own 82.83% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on GIL. BMO Capital Markets upped their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 1st. TD Securities lifted their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Monday. CIBC boosted 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. Finally, Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.05.

Gildan Activewear Stock Down 0.6 %

NYSE GIL traded down $0.28 during mid-day trading on Thursday, hitting $49.12. The company's stock had a trading volume of 653,640 shares, compared to its average volume of 716,389. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.87 and a beta of 1.40. The company's 50 day simple moving average is $48.33 and its 200 day simple moving average is $43.28. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.60.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data 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 firm had revenue of $891.10 million during the quarter, compared to analysts' expectations of $882.85 million. During the same period last year, the company earned $0.74 earnings per share. The business's revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be paid a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.

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.