Gildan Activewear Inc. (NYSE:GIL) Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. lessened its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714,801 shares of the textile maker's stock after selling 138,595 shares during the period. Gildan Activewear makes up about 0.6% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 28th largest holding. EdgePoint Investment Group Inc. owned 1.12% of Gildan Activewear worth $80,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Syon Capital LLC increased its position in 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 buying an additional 242 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after purchasing an additional 333 shares in the last quarter. Cooper Financial Group increased its holdings in shares of Gildan Activewear by 2.1% in the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker's stock worth $765,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank increased its holdings in shares of Gildan Activewear by 16.4% in the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock worth $132,000 after purchasing an additional 395 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Gildan Activewear by 19.1% in the 4th quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker's stock worth $144,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $0.12 during trading hours on Friday, hitting $47.21. The company's stock had a trading volume of 427,752 shares, compared to its average volume of 655,444. The business has a 50 day moving average price of $44.32 and a two-hundred day moving average price of $47.80. Gildan Activewear Inc. has a 12-month low of $33.66 and a 12-month high of $55.39. The company has a market cap of $7.15 billion, a PE ratio of 18.88, a PEG ratio of 1.76 and a beta of 1.21. 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 - Get Free Report) TSE: GIL last issued its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $711.70 million for the quarter, compared to analysts' expectations of $715.29 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The business's revenue was up 2.3% compared to the same quarter last year. Analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 34.75%.

Wall Street Analyst Weigh In

GIL has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Barclays assumed coverage on Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 price objective for the company. BMO Capital Markets lifted their price objective on Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, TD Securities lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Gildan Activewear has a consensus rating of "Buy" and a consensus target price of $58.20.

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.