Intact Investment Management Inc. Has $49.76 Million Holdings in Gildan Activewear Inc. (NYSE:GIL)

Intact Investment Management Inc. lifted its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,057,520 shares of the textile maker's stock after buying an additional 70,270 shares during the quarter. Gildan Activewear comprises 1.7% of Intact Investment Management Inc.'s holdings, making the stock its 13th biggest position. Intact Investment Management Inc. owned 0.69% of Gildan Activewear worth $49,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIL. Connor Clark & Lunn Investment Management Ltd. raised its stake in Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock valued at $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. CIBC Asset Management Inc raised its stake 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 purchasing an additional 1,022,695 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Gildan Activewear in the third quarter valued at about $24,262,000. Bahl & Gaynor Inc. grew its position in 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 acquiring an additional 488,602 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in 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 acquiring an additional 240,375 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

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Gildan Activewear Trading Down 1.0 %

GIL stock traded down $0.46 during trading on Tuesday, hitting $46.36. The company had a trading volume of 456,922 shares, compared to its average volume of 651,937. The business has a 50-day moving average of $50.72 and a 200-day moving average of $48.64. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $55.39. The stock has a market cap of $7.05 billion, a PE ratio of 18.54, a PEG ratio of 1.76 and a beta of 1.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92.

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

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 1.95%. Gildan Activewear's dividend payout ratio is presently 36.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GIL shares. Citigroup lifted 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. CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. UBS Group boosted their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. TD Securities boosted their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, BMO Capital Markets boosted their price target on Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price 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.