CIBC Asset Management Inc decreased its position in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 12.2% during the first quarter, HoldingsChannel.com reports. The fund owned 130,159 shares of the textile maker’s stock after selling 18,106 shares during the period. CIBC Asset Management Inc’s holdings in Gildan Activewear were worth $4,680,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of GIL. Karp Capital Management Corp purchased a new position in shares of Gildan Activewear during the 4th quarter worth approximately $34,000. Enlightenment Research LLC purchased a new position in shares of Gildan Activewear during the 4th quarter worth approximately $39,000. Rehmann Capital Advisory Group purchased a new stake in shares of Gildan Activewear in the 4th quarter worth approximately $45,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of Gildan Activewear in the 1st quarter worth approximately $56,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Gildan Activewear by 916.3% in the 4th quarter. Quadrant Capital Group LLC now owns 4,116 shares of the textile maker’s stock worth $122,000 after buying an additional 3,711 shares during the last quarter. Hedge funds and other institutional investors own 71.50% of the company’s stock.
NYSE GIL opened at $37.24 on Thursday. The firm has a market cap of $7.66 billion, a PE ratio of 20.02, a PEG ratio of 1.42 and a beta of 0.87. The company has a current ratio of 4.92, a quick ratio of 1.74 and a debt-to-equity ratio of 0.50. Gildan Activewear Inc has a 1-year low of $25.33 and a 1-year high of $38.28.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $600.17 million. Gildan Activewear had a return on equity of 18.24% and a net margin of 10.59%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. As a group, analysts forecast that Gildan Activewear Inc will post 1.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a $0.134 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.54 annualized dividend and a dividend yield of 1.44%. Gildan Activewear’s dividend payout ratio (DPR) is 29.03%.
Several research firms recently weighed in on GIL. Desjardins downgraded Gildan Activewear from a “buy” rating to a “hold” rating and set a $33.98 price target on the stock. in a research note on Monday, February 4th. TD Securities upped their price target on Gildan Activewear from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, February 19th. Zacks Investment Research downgraded Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Raymond James restated a “strong-buy” rating and issued a $40.00 price target on shares of Gildan Activewear in a research note on Friday, February 22nd. Finally, ValuEngine upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.80.
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Gildan Activewear Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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