Gildan Activewear Inc. (NYSE:GIL) Stock Position Raised by Forge First Asset Management Inc.

Forge First Asset Management Inc. lifted its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 108.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,600 shares of the textile maker’s stock after acquiring an additional 24,200 shares during the quarter. Gildan Activewear makes up about 0.8% of Forge First Asset Management Inc.’s holdings, making the stock its 29th biggest holding. Forge First Asset Management Inc.’s holdings in Gildan Activewear were worth $2,191,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GIL. Wealth Enhancement Advisory Services LLC purchased a new stake in Gildan Activewear in the 3rd quarter worth approximately $216,000. US Bancorp DE increased its stake in shares of Gildan Activewear by 24.6% during the 3rd quarter. US Bancorp DE now owns 9,359 shares of the textile maker’s stock worth $441,000 after purchasing an additional 1,849 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Gildan Activewear during the 3rd quarter worth $391,000. Aigen Investment Management LP acquired a new position in shares of Gildan Activewear during the 3rd quarter worth $323,000. Finally, Cumberland Partners Ltd acquired a new position in shares of Gildan Activewear during the 3rd quarter worth $231,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

NYSE:GIL opened at $47.99 on Wednesday. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.76 and a beta of 1.39. The company has a 50-day moving average of $50.73 and a 200-day moving average of $48.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, equities research 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. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a dividend yield of 1.88%. Gildan Activewear’s payout ratio is currently 36.00%.

Analyst Ratings Changes

GIL has been the topic of several analyst reports. Stifel Nicolaus increased their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets raised their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. CIBC raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. TD Securities raised their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Citigroup raised their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average 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.