Gildan Activewear Inc. (NYSE:GIL) Stock Position Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 604.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,850,971 shares of the textile maker’s stock after purchasing an additional 1,588,071 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.21% of Gildan Activewear worth $86,999,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Gildan Activewear during the 3rd quarter worth about $216,000. Atria Investments Inc bought a new stake in shares of Gildan Activewear during the 3rd quarter worth about $391,000. Aigen Investment Management LP bought a new stake in shares of Gildan Activewear during the 3rd quarter worth about $323,000. Cumberland Partners Ltd bought a new stake in shares of Gildan Activewear during the 3rd quarter worth about $231,000. Finally, Zions Bancorporation N.A. raised its position in shares of Gildan Activewear by 46.1% during the 3rd quarter. Zions Bancorporation N.A. now owns 16,200 shares of the textile maker’s stock worth $763,000 after buying an additional 5,110 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GIL has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. UBS Group lifted their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear has an average rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $48.33 on Thursday. The firm’s 50 day simple moving average is $50.75 and its 200-day simple moving average is $48.57. The company has a market cap of $7.35 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. 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 released its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share 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 analysts’ expectations of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. As a group, equities research analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date is Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a yield of 1.87%. Gildan Activewear’s payout ratio is presently 36.00%.

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.