Gildan Activewear Inc. (NYSE:GIL) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 106.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,573 shares of the textile maker’s stock after purchasing an additional 25,050 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Gildan Activewear were worth $2,286,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Gildan Activewear during the third quarter valued at $29,000. Blue Trust Inc. increased its holdings in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Gildan Activewear during the second quarter worth about $51,000. Tobam acquired a new position in Gildan Activewear during the second quarter worth about $53,000. Finally, CWM LLC grew its holdings in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of research analyst reports. TD Securities lifted their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Citigroup lifted their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC lifted their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average target price of $51.05.

Gildan Activewear Trading Down 1.5 %

Shares of NYSE GIL opened at $49.34 on Thursday. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.87 and a beta of 1.40. 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 business has a 50 day simple moving average of $48.33 and a 200 day simple moving average of $43.28. Gildan Activewear Inc. has a 52 week low of $30.68 and a 52 week high of $50.60.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, research analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm 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. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.23%. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

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.