Gildan Activewear, Inc. (NYSE:GIL) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. raised its holdings in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,190,773 shares of the textile maker's stock after purchasing an additional 133,253 shares during the quarter. Gildan Activewear accounts for approximately 1.8% of Intact Investment Management Inc.'s investment portfolio, making the stock its 13th largest holding. Intact Investment Management Inc. owned approximately 0.79% of Gildan Activewear worth $52,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Syon Capital LLC lifted its position in shares of Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock worth $307,000 after purchasing an additional 242 shares during the last quarter. Huntington National Bank raised its holdings in shares of Gildan Activewear by 16.4% in the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock valued at $132,000 after acquiring an additional 395 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Gildan Activewear by 19.1% in the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker's stock valued at $144,000 after acquiring an additional 492 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Gildan Activewear by 69.3% in the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after acquiring an additional 547 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear in the fourth quarter valued at about $28,000. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Trading Down 1.3%

Shares of NYSE:GIL traded down $0.63 during midday trading on Friday, reaching $46.53. 363,093 shares of the company's stock were exchanged, compared to its average volume of 631,552. The firm's 50 day simple moving average is $46.47 and its two-hundred day simple moving average is $47.61. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.50 and a beta of 1.20. Gildan Activewear, Inc. has a fifty-two week low of $36.91 and a fifty-two week high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $711.70 million during the quarter, compared to analysts' expectations of $715.29 million. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. As a group, sell-side analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Tuesday, May 20th. Gildan Activewear's payout ratio is presently 34.75%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GIL. Barclays initiated 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. CIBC reduced their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 target price for the company in a report on Wednesday, May 28th. Finally, TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $57.91.

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.