Intact Investment Management Inc. Has $46.47 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Intact Investment Management Inc. increased its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 987,250 shares of the textile maker's stock after purchasing an additional 106,150 shares during the quarter. Gildan Activewear accounts for 1.5% of Intact Investment Management Inc.'s investment portfolio, making the stock its 15th largest position. Intact Investment Management Inc. owned approximately 0.60% of Gildan Activewear worth $46,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. National Bank of Canada FI increased its holdings in Gildan Activewear by 43.8% during the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker's stock valued at $65,451,000 after acquiring an additional 537,215 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock valued at $70,696,000 after acquiring an additional 407,113 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Gildan Activewear by 31.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker's stock valued at $59,674,000 after acquiring an additional 377,135 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock valued at $97,290,000 after acquiring an additional 324,304 shares in the last quarter. Finally, Cooke & Bieler LP increased its holdings in Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker's stock valued at $388,786,000 after acquiring an additional 271,273 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GIL. CIBC raised their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a report on Friday. Royal Bank of Canada raised their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday. BMO Capital Markets raised their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Citigroup raised their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.85.

Gildan Activewear Trading Down 1.1 %

GIL stock traded down $0.54 during midday trading on Monday, reaching $49.12. 675,612 shares of the company's stock traded hands, compared to its average volume of 709,484. The company has a market capitalization of $7.71 billion, a P/E ratio of 19.63, a PEG ratio of 1.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.12. The business has a 50-day moving average price of $46.45 and a two-hundred day moving average price of $40.94.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data 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 company had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. Equities research analysts forecast that Gildan Activewear Inc. will post 2.93 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is 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.