Gildan Activewear Inc. (NYSE:GIL) is Cardinal Capital Management Inc.’s 4th Largest Position

Cardinal Capital Management Inc. reduced its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,713,981 shares of the textile maker’s stock after selling 98,705 shares during the quarter. Gildan Activewear makes up about 4.1% of Cardinal Capital Management Inc.’s holdings, making the stock its 4th largest position. Cardinal Capital Management Inc.’s holdings in Gildan Activewear were worth $120,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GIL. Syon Capital LLC increased its position in shares of Gildan Activewear by 3.9% during the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after purchasing an additional 242 shares during the last quarter. Huntington National Bank grew its position in Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after buying an additional 395 shares during the period. TD Private Client Wealth LLC grew its position in Gildan Activewear by 19.1% during the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker’s stock valued at $144,000 after buying an additional 492 shares during the period. Plato Investment Management Ltd purchased a new stake in Gildan Activewear during the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc raised its position in Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker’s stock worth $33,000 after acquiring an additional 623 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 0.1%

NYSE:GIL opened at $47.88 on Tuesday. The stock’s fifty day moving average price is $45.14 and its two-hundred day moving average price is $47.74. The company has a market cap of $7.24 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.76 and a beta of 1.20. 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 1 year low of $36.91 and a 1 year high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

Analysts Set New Price Targets

GIL has been the subject of a number of research reports. UBS Group increased their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. CIBC dropped their price objective on Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Canaccord Genuity Group increased their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, TD Securities upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $57.91.

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.