Hillsdale Investment Management Inc. Has $23.77 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Hillsdale Investment Management Inc. grew its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 113.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 505,716 shares of the textile maker’s stock after purchasing an additional 268,846 shares during the quarter. Gildan Activewear comprises approximately 1.2% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 17th biggest position. Hillsdale Investment Management Inc. owned about 0.33% of Gildan Activewear worth $23,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GIL. Atria Investments Inc acquired a new stake in Gildan Activewear during the third quarter worth approximately $391,000. Intech Investment Management LLC acquired a new stake in Gildan Activewear during the third quarter worth approximately $544,000. Cerity Partners LLC grew its position in Gildan Activewear by 171.1% during the third quarter. Cerity Partners LLC now owns 17,720 shares of the textile maker’s stock worth $835,000 after buying an additional 11,184 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Gildan Activewear during the third quarter worth approximately $462,000. Finally, DRW Securities LLC acquired a new stake in Gildan Activewear during the third quarter worth approximately $1,663,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Down 2.0 %

Shares of GIL opened at $45.11 on Friday. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.76 and a beta of 1.39. 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 stock has a fifty day moving average of $50.64 and a 200-day moving average of $48.61.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. 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 2.00%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GIL. Canaccord Genuity Group increased their price target on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup increased their price target on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upped their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus upped their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC upped 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, February 20th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.00.

About Gildan Activewear

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.