Scotia Capital Inc. Has $3.82 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Scotia Capital Inc. trimmed its position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,978 shares of the textile maker's stock after selling 19,170 shares during the quarter. Scotia Capital Inc. owned approximately 0.05% of Gildan Activewear worth $3,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GIL. Forge First Asset Management Inc. boosted its holdings in 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 worth $2,191,000 after purchasing an additional 24,200 shares during the period. CIBC Asset Management Inc lifted its position in shares of Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after buying an additional 1,022,695 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Gildan Activewear by 76.8% in the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock valued at $913,000 after buying an additional 8,430 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Gildan Activewear by 80.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker's stock valued at $11,568,000 after buying an additional 109,993 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Gildan Activewear by 776.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock worth $38,414,000 after acquiring an additional 723,962 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

GIL has been the subject of a number of research reports. UBS Group lifted their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets raised their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, TD Securities upped their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $60.00.

Gildan Activewear Stock Down 0.8 %

NYSE GIL traded down $0.33 on Tuesday, reaching $41.21. The stock had a trading volume of 765,677 shares, compared to its average volume of 647,372. 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 Inc. has a 1 year low of $32.23 and a 1 year high of $55.39. The business has a 50 day moving average price of $47.58 and a 200 day moving average price of $48.23. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.76 and a beta of 1.16.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly 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). The firm had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were paid a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Wednesday, March 12th. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's payout ratio is presently 36.00%.

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.