Dixon Mitchell Investment Counsel Inc. Invests $84,000 in Gildan Activewear Inc. (NYSE:GIL)

Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,261 shares of the textile maker’s stock, valued at approximately $84,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GIL. Vaughan Nelson Investment Management L.P. purchased a new stake in Gildan Activewear during the fourth quarter worth about $34,456,000. Strs Ohio boosted its holdings in Gildan Activewear by 443.6% during the fourth quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock worth $19,547,000 after buying an additional 480,000 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Gildan Activewear by 3,837,975.0% during the fourth quarter. BNP Paribas Financial Markets now owns 153,523 shares of the textile maker’s stock worth $5,075,000 after buying an additional 153,519 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Gildan Activewear by 1.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock worth $89,732,000 after buying an additional 29,193 shares in the last quarter. Finally, Norges Bank purchased a new stake in Gildan Activewear during the fourth quarter worth about $70,917,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Trading Up 1.0 %

Shares of GIL traded up $0.37 on Tuesday, hitting $38.08. 566,797 shares of the stock traded hands, compared to its average volume of 808,316. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $6.42 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.44 and a beta of 1.43. The stock’s 50 day moving average is $36.36 and its two-hundred day moving average is $35.01. Gildan Activewear Inc. has a 1 year low of $26.99 and a 1 year high of $39.07.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 2.92 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.15%. The ex-dividend date was Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. TD Securities upped their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and an average price target of $41.95.

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.