Gildan Activewear Inc. (NYSE:GIL) Shares Sold by Ativo Capital Management LLC

Ativo Capital Management LLC cut its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 35,249 shares of the textile maker’s stock after selling 806 shares during the period. Gildan Activewear accounts for approximately 1.6% of Ativo Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Ativo Capital Management LLC’s holdings in Gildan Activewear were worth $1,658,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Davidson Investment Advisors increased its position in shares of Gildan Activewear by 1.3% in the fourth quarter. Davidson Investment Advisors now owns 437,314 shares of the textile maker’s stock valued at $20,576,000 after buying an additional 5,631 shares in the last quarter. Venturi Wealth Management LLC increased its position 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 valued at $47,000 after buying an additional 908 shares in the last quarter. Truist Financial Corp increased its position in shares of Gildan Activewear by 76.8% in the fourth 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 in the last quarter. CIBC Asset Management Inc increased its position in shares of Gildan Activewear by 545.1% in 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 buying an additional 1,022,695 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Gildan Activewear by 10.4% in the fourth quarter. Principal Securities Inc. now owns 11,007 shares of the textile maker’s stock valued at $518,000 after buying an additional 1,033 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on GIL. UBS Group boosted their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities upped their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets upped their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group upped their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Finally, CIBC increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $54.18 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The stock has a fifty day moving average of $49.47 and a two-hundred day moving average of $47.54. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.74 and a beta of 1.41. Gildan Activewear Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $55.39.

Gildan Activewear (NYSE:GIL) (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). Gildan Activewear had a net margin of 12.26% and a return on equity of 27.49%. The firm had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same quarter in the previous year, the business posted $0.75 EPS. Gildan Activewear’s revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Gildan Activewear Inc. will post 3.44 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s payout ratio is currently 32.80%.

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.