JARISLOWSKY FRASER Ltd Has $411.22 Million Position in Gildan Activewear Inc. (NYSE:GIL)

JARISLOWSKY FRASER Ltd lessened its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,773,086 shares of the textile maker’s stock after selling 1,555,263 shares during the quarter. Gildan Activewear makes up about 2.4% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 14th biggest position. JARISLOWSKY FRASER Ltd owned about 0.06% of Gildan Activewear worth $411,223,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear in the fourth quarter worth $28,000. Fifth Third Bancorp boosted its stake in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after buying an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after acquiring an additional 745 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 acquiring an additional 908 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock valued at $67,000 after acquiring an additional 1,208 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

NYSE GIL opened at $47.21 on Friday. The stock has a market cap of $7.15 billion, a PE ratio of 18.88, a P/E/G ratio of 1.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The firm has a 50-day moving average of $44.32 and a 200-day moving average of $47.80. Gildan Activewear Inc. has a 52-week low of $33.66 and a 52-week high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be paid a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.91%. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BMO Capital Markets raised 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, February 20th. CIBC decreased their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Barclays assumed coverage on shares of Gildan Activewear in a report on Monday, April 28th. They set an “overweight” rating and a $51.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Citigroup boosted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $58.20.

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.