Mackenzie Financial Corp Sells 377,170 Shares of Gildan Activewear Inc. (NYSE:GIL)

Mackenzie Financial Corp cut its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,682,291 shares of the textile maker's stock after selling 377,170 shares during the quarter. Mackenzie Financial Corp owned approximately 1.76% of Gildan Activewear worth $126,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIL. Janney Montgomery Scott LLC boosted its holdings in Gildan Activewear by 12.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,435 shares of the textile maker's stock worth $538,000 after purchasing an additional 1,226 shares during the last quarter. Fifth Third Bancorp raised its position in Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after acquiring an additional 333 shares during the period. Blue Trust Inc. raised its position in Gildan Activewear by 80.1% in the fourth quarter. Blue Trust Inc. now owns 1,459 shares of the textile maker's stock worth $69,000 after acquiring an additional 649 shares during the period. R Squared Ltd bought a new stake in Gildan Activewear in the fourth quarter worth about $165,000. Finally, Forsta AP Fonden bought a new stake in Gildan Activewear in the fourth quarter worth about $1,613,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Down 2.2%

NYSE:GIL traded down $1.08 during midday trading on Friday, reaching $47.09. 285,453 shares of the stock traded hands, compared to its average volume of 631,597. The company has a fifty day moving average of $44.79 and a 200 day moving average of $47.84. Gildan Activewear Inc. has a 12 month low of $36.20 and a 12 month high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a market capitalization of $7.12 billion, a P/E ratio of 18.83, a PEG ratio of 1.76 and a beta of 1.21.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. During the same period in the prior year, the business earned $0.59 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be issued a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.92%. Gildan Activewear's dividend payout ratio (DPR) is presently 34.75%.

Analyst Ratings Changes

GIL has been the topic of several research reports. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Citigroup lifted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. TD Securities lifted 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. CIBC lowered their price objective 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, UBS Group lifted their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Gildan Activewear presently has an average rating of "Buy" and an average target price 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.