Cardinal Capital Management Inc. Has $132.07 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Cardinal Capital Management Inc. lessened its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,812,686 shares of the textile maker’s stock after selling 65,072 shares during the quarter. Gildan Activewear makes up approximately 4.5% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 2nd largest position. Cardinal Capital Management Inc.’s holdings in Gildan Activewear were worth $132,072,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Simcoe Capital Management LLC increased its holdings in shares of Gildan Activewear by 10.5% in 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 in the last quarter. Intech Investment Management LLC acquired a new position in shares of Gildan Activewear in the 3rd quarter worth $544,000. Tacita Capital Inc raised its position in shares of Gildan Activewear by 1,025.5% during the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock worth $615,000 after purchasing an additional 11,896 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after purchasing an additional 123,578 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of Gildan Activewear by 5.3% in the 3rd quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after purchasing an additional 12,933 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group raised shares of Gildan Activewear from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $60.00 in a research note on Friday, January 10th. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Securities increased their target price on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group lifted their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $53.35.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $50.87 on Thursday. Gildan Activewear Inc. has a one year low of $32.00 and a one year high of $51.15. The business’s 50-day moving average price is $48.39 and its two-hundred day moving average price is $45.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The company has a market capitalization of $7.76 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, November 21st were paid a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s payout ratio is presently 32.41%.

Gildan Activewear 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.