JCIC Asset Management Inc. Invests $3.85 Million in Gildan Activewear Inc. (NYSE:GIL)

JCIC Asset Management Inc. acquired a new position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 81,925 shares of the textile maker's stock, valued at approximately $3,853,000. Gildan Activewear makes up about 1.6% of JCIC Asset Management Inc.'s holdings, making the stock its 22nd largest holding. JCIC Asset Management Inc. owned about 0.05% of Gildan Activewear as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Simcoe Capital Management LLC lifted its position in shares of Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock valued at $112,492,000 after acquiring an additional 226,695 shares in the last quarter. Intech Investment Management LLC acquired a new position in Gildan Activewear in the 3rd quarter valued at about $544,000. Tacita Capital Inc lifted its holdings in Gildan Activewear by 1,025.5% in the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker's stock valued at $615,000 after purchasing an additional 11,896 shares in the last quarter. Bridges Investment Management Inc. acquired a new stake in shares of Gildan Activewear during the 2nd quarter worth about $1,425,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock worth $5,899,000 after buying an additional 123,578 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIL has been the topic of several recent analyst reports. UBS Group raised shares of Gildan Activewear from a "neutral" rating to a "buy" rating and upped their price objective for the company from $50.00 to $60.00 in a research note on Friday. BMO Capital Markets increased their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. TD Securities lifted their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Citigroup upped their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $53.35.

Gildan Activewear Stock Down 0.7 %

NYSE GIL traded down $0.34 during trading hours on Monday, hitting $47.96. The company had a trading volume of 719,928 shares, compared to its average volume of 506,733. The firm's 50 day moving average is $48.28 and its 200 day moving average is $45.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.60. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.82 and a beta of 1.41.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Sell-side analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a dividend of $0.152 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.27%. Gildan Activewear's payout ratio is currently 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.