Cardinal Capital Management Inc. Decreases Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Cardinal Capital Management Inc. cut its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 portfolio, making the stock its 4th largest position. Cardinal Capital Management Inc. owned approximately 1.79% of Gildan Activewear worth $120,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear during the fourth quarter valued at about $28,000. Versant Capital Management Inc increased its position in Gildan Activewear by 510.7% in the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after buying an additional 623 shares in the last quarter. GAMMA Investing LLC increased its position in Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after buying an additional 735 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker's stock worth $47,000 after acquiring an additional 908 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Citigroup boosted their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, May 28th. CIBC dropped their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, TD Securities upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $57.91.

Gildan Activewear Stock Performance

Shares of NYSE GIL traded up $0.98 during midday trading on Tuesday, hitting $48.85. The company's stock had a trading volume of 762,752 shares, compared to its average volume of 632,334. The stock has a fifty day moving average price of $45.14 and a 200 day moving average price of $47.74. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 1.76 and a beta of 1.20. Gildan Activewear Inc. has a one year low of $36.91 and a one year high of $55.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted 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. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, research analysts forecast that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.85%. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

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.