Dixon Mitchell Investment Counsel Inc. Acquires Shares of 2,261 Gildan Activewear Inc. (NYSE:GIL)

Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,261 shares of the textile maker’s stock, valued at approximately $84,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CWM LLC raised its holdings in shares of Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after buying an additional 498 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Gildan Activewear by 529.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after buying an additional 1,863 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Gildan Activewear by 60.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock worth $118,000 after buying an additional 1,586 shares during the period. Mather Group LLC. purchased a new stake in shares of Gildan Activewear in the first quarter worth approximately $122,000. Finally, Signaturefd LLC raised its holdings in shares of Gildan Activewear by 30.7% in the fourth quarter. Signaturefd LLC now owns 5,364 shares of the textile maker’s stock worth $177,000 after buying an additional 1,260 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on GIL shares. Canaccord Genuity Group increased their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TD Securities increased their target price on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Canaccord Genuity Group increased their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 target price on shares of Gildan Activewear in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and an average target price of $41.95.

Gildan Activewear Price Performance

Shares of GIL stock traded up $0.37 during mid-day trading on Tuesday, hitting $38.08. 566,797 shares of the stock were exchanged, compared to its average volume of 808,316. The firm has a fifty day moving average of $36.36 and a 200 day moving average of $35.01. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. Gildan Activewear Inc. has a 52-week low of $26.99 and a 52-week high of $39.07. The company has a market cap of $6.42 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same period in the prior year, the company posted $0.45 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts anticipate that Gildan Activewear Inc. will post 2.92 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

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.