Hillsdale Investment Management Inc. Acquires 268,846 Shares of Gildan Activewear Inc. (NYSE:GIL)

Hillsdale Investment Management Inc. increased its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 113.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 505,716 shares of the textile maker's stock after purchasing an additional 268,846 shares during the quarter. Gildan Activewear comprises about 1.2% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 17th biggest position. Hillsdale Investment Management Inc. owned 0.33% of Gildan Activewear worth $23,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Atria Investments Inc acquired a new stake in shares of Gildan Activewear during the third quarter worth $391,000. Intech Investment Management LLC acquired a new position in shares of Gildan Activewear during the 3rd quarter worth about $544,000. Cerity Partners LLC increased its stake in shares of Gildan Activewear by 171.1% in the 3rd quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker's stock valued at $835,000 after acquiring an additional 11,184 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gildan Activewear in the 3rd quarter valued at approximately $462,000. Finally, DRW Securities LLC acquired a new stake in shares of Gildan Activewear in the 3rd quarter valued at approximately $1,663,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Remove Ads

Gildan Activewear Stock Down 2.2 %

Shares of NYSE:GIL traded down $1.00 during midday trading on Wednesday, hitting $44.15. 1,128,868 shares of the company's stock were exchanged, compared to its average volume of 621,686. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39. The company has a market cap of $6.71 billion, a PE ratio of 17.66, 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 current ratio of 2.22 and a quick ratio of 0.98. The stock has a 50 day moving average price of $50.51 and a 200-day moving average price of $48.68.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results 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%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be given a $0.226 dividend. This is a positive change 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 2.05%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear's dividend payout ratio (DPR) is 36.00%.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Securities raised their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Citigroup upped their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $60.00.

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.