Intact Investment Management Inc. Raises Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Intact Investment Management Inc. grew its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,057,520 shares of the textile maker’s stock after buying an additional 70,270 shares during the quarter. Gildan Activewear makes up 1.7% of Intact Investment Management Inc.’s portfolio, making the stock its 13th biggest holding. Intact Investment Management Inc. owned 0.69% of Gildan Activewear worth $49,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Simcoe Capital Management LLC boosted its stake in Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after buying an additional 226,695 shares during the last quarter. Intech Investment Management LLC bought a new position in Gildan Activewear during the third quarter valued at approximately $544,000. CIBC Asset Management Inc boosted its stake in Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after buying an additional 1,022,695 shares during the last quarter. Truist Financial Corp boosted its stake in Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock valued at $913,000 after buying an additional 8,430 shares during the last quarter. Finally, Meritage Portfolio Management bought a new position in Gildan Activewear during the fourth quarter valued at approximately $462,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GIL. BMO Capital Markets raised their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group raised their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. TD Securities raised their price objective on Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup raised their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus raised their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Price Performance

Shares of GIL stock opened at $45.94 on Friday. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39. 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 firm has a market capitalization of $6.99 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.76 and a beta of 1.39. The stock has a 50 day moving average price of $50.74 and a 200 day moving average price of $48.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The firm had revenue of $822.00 million for 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 company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

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.