Northwest & Ethical Investments L.P. Lowers Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Northwest & Ethical Investments L.P. lowered its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,773 shares of the textile maker's stock after selling 10,086 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Gildan Activewear were worth $2,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the 4th quarter worth $28,000. Fifth Third Bancorp lifted its holdings in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after buying an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock valued at $42,000 after acquiring an additional 745 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after acquiring an additional 908 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Gildan Activewear by 561.9% during the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker's stock worth $67,000 after acquiring an additional 1,208 shares during the period. 82.83% of the stock is currently owned by institutional investors.

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Gildan Activewear Price Performance

Gildan Activewear stock traded down $0.44 during trading hours on Tuesday, reaching $45.11. 529,326 shares of the stock were exchanged, compared to its average volume of 621,041. The stock has a 50 day moving average of $50.59 and a two-hundred day moving average of $48.68. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $55.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.86 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39.

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 company 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 business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. Equities analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders 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 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear's payout ratio is 36.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. TD Securities upped their price objective on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. CIBC raised their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. BMO Capital Markets upped their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average 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.