Korea Investment CORP Acquires 137,661 Shares of Gildan Activewear Inc. (NYSE:GIL)

Korea Investment CORP grew its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 164.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,591 shares of the textile maker's stock after purchasing an additional 137,661 shares during the period. Korea Investment CORP owned approximately 0.15% of Gildan Activewear worth $10,423,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GIL. Simcoe Capital Management LLC grew 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 buying an additional 226,695 shares in the last quarter. Forge First Asset Management Inc. grew its holdings in shares of Gildan Activewear by 108.0% in the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock valued at $2,191,000 after purchasing an additional 24,200 shares in the last quarter. Intech Investment Management LLC bought a new stake in Gildan Activewear in the third quarter worth $544,000. CIBC Asset Management Inc raised its stake 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 valued at $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock valued at $913,000 after purchasing an additional 8,430 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

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Gildan Activewear Trading Down 4.8 %

Shares of GIL traded down $2.01 during trading hours on Friday, reaching $39.78. 1,879,733 shares of the company traded hands, compared to its average volume of 641,638. The stock's fifty day moving average price is $49.46 and its 200 day moving average price is $48.58. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (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 analysts' expectations of $805.75 million. During the same period last year, the firm earned $0.75 earnings per share. Gildan Activewear's quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company 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 dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a dividend yield of 2.27%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio (DPR) is currently 36.00%.

Analysts Set New Price Targets

GIL has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. CIBC boosted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. TD Securities raised their price objective on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. UBS Group boosted 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. Finally, Stifel Nicolaus increased their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $60.00.

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.