Louisbourg Investments Inc. Has $7.20 Million Stock Position in Gildan Activewear, Inc. (NYSE:GIL)

Louisbourg Investments Inc. trimmed its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,692 shares of the textile maker's stock after selling 71,454 shares during the period. Gildan Activewear comprises approximately 1.8% of Louisbourg Investments Inc.'s portfolio, making the stock its 11th biggest holding. Louisbourg Investments Inc. owned about 0.11% of Gildan Activewear worth $7,200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Forge First Asset Management Inc. increased its position in Gildan Activewear by 108.0% in the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock worth $2,191,000 after purchasing an additional 24,200 shares during the last quarter. Polar Asset Management Partners Inc. grew its stake in shares of Gildan Activewear by 55.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock valued at $1,244,000 after buying an additional 9,450 shares in the last quarter. Shell Asset Management Co. increased its holdings in Gildan Activewear by 250.0% in the fourth quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker's stock worth $1,304,000 after buying an additional 19,800 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Gildan Activewear by 262.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker's stock worth $2,138,000 after buying an additional 32,911 shares during the last quarter. Finally, Truist Financial Corp raised its position in Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock valued at $913,000 after acquiring an additional 8,430 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

Shares of NYSE:GIL traded down $0.63 during midday trading on Friday, hitting $46.53. The company's stock had a trading volume of 345,549 shares, compared to its average volume of 679,814. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91. The stock's 50 day simple moving average is $46.37 and its 200 day simple moving average is $47.65. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.52 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 released its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. As a group, research analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets upped their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Canaccord Genuity Group raised their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Scotiabank raised Gildan Activewear to a "strong-buy" rating and set a $55.00 price target for the company in a research report on Wednesday, May 28th. Finally, CIBC decreased their price target on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of "Buy" and a consensus price target of $57.91.

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.