Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 85.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,600 shares of the textile maker's stock after selling 478,898 shares during the quarter. Canada Pension Plan Investment Board owned about 0.06% of Gildan Activewear worth $3,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new position in Gildan Activewear during the fourth quarter worth approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after buying an additional 1,588,071 shares during the period. CIBC Asset Management Inc boosted its holdings in Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after acquiring an additional 1,022,695 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Gildan Activewear by 776.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock valued at $38,414,000 after acquiring an additional 723,962 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Gildan Activewear during the third quarter valued at about $24,262,000. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $41.85 on Wednesday. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The firm's fifty day moving average price is $46.39 and its 200 day moving average price is $47.98.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (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 analysts' expectations of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, March 12th. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's payout ratio is 36.00%.

Wall Street Analyst Weigh In

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

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.

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