Connor Clark & Lunn Investment Management Ltd. Has $87 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 604.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,850,971 shares of the textile maker's stock after buying an additional 1,588,071 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.21% of Gildan Activewear worth $86,999,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock valued at $322,298,000 after buying an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC lifted its holdings in Gildan Activewear by 10.5% during 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 purchasing an additional 226,695 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Gildan Activewear by 2.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker's stock valued at $76,244,000 after purchasing an additional 44,725 shares during the last quarter. CIBC Asset Management Inc boosted its position in Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. Finally, Bahl & Gaynor Inc. increased its holdings in shares of Gildan Activewear by 192.7% in the fourth quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker's stock valued at $34,918,000 after purchasing an additional 488,602 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GIL shares. Citigroup upped their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus increased their price objective on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. UBS Group boosted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. 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. Finally, CIBC boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of "Buy" and a consensus price target of $60.00.

Gildan Activewear Price Performance

Shares of NYSE GIL traded up $0.57 during trading hours on Friday, hitting $46.53. 379,061 shares of the stock were exchanged, compared to its average volume of 595,534. The company's fifty day simple moving average is $50.73 and its two-hundred day simple moving average is $48.60. The company has a market cap of $7.08 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. 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 Inc. has a 1-year low of $32.23 and a 1-year high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. On average, sell-side analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a $0.226 dividend. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear's dividend payout ratio (DPR) is presently 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.