Mackenzie Financial Corp Grows Stake in Gildan Activewear, Inc. (NYSE:GIL)

Mackenzie Financial Corp lifted its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,738,691 shares of the textile maker's stock after purchasing an additional 56,400 shares during the period. Mackenzie Financial Corp owned about 1.81% of Gildan Activewear worth $121,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GIL. American Century Companies Inc. increased its stake in shares of Gildan Activewear by 13.8% during the fourth quarter. American Century Companies Inc. now owns 163,967 shares of the textile maker's stock worth $7,717,000 after purchasing an additional 19,877 shares in the last quarter. LPL Financial LLC increased its stake in shares of Gildan Activewear by 65.4% during the fourth quarter. LPL Financial LLC now owns 56,419 shares of the textile maker's stock worth $2,655,000 after purchasing an additional 22,313 shares in the last quarter. Korea Investment CORP increased its stake in shares of Gildan Activewear by 164.0% during the fourth quarter. Korea Investment CORP now owns 221,591 shares of the textile maker's stock worth $10,423,000 after purchasing an additional 137,661 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gildan Activewear by 40.7% during the fourth quarter. JPMorgan Chase & Co. now owns 814,127 shares of the textile maker's stock worth $38,305,000 after purchasing an additional 235,405 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Gildan Activewear during the fourth quarter worth about $97,275,000. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $52.51 on Tuesday. The firm has a 50 day simple moving average of $49.32 and a 200-day simple moving average of $48.18. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $55.39. 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 $7.87 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

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

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.226 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.72%. Gildan Activewear's dividend payout ratio (DPR) is 34.75%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective for the company in a research note on Wednesday, May 28th. TD Securities upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. CIBC dropped their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Barclays assumed coverage on shares of Gildan Activewear in a research note on Monday, April 28th. They set an "overweight" rating and a $51.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus 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.

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