Addenda Capital Inc. Has $9.97 Million Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Addenda Capital Inc. cut its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,833 shares of the textile maker’s stock after selling 1,650 shares during the period. Addenda Capital Inc. owned 0.14% of Gildan Activewear worth $9,967,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Simcoe Capital Management LLC raised its stake in shares of Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after acquiring an additional 226,695 shares during the last quarter. Intech Investment Management LLC bought a new position in Gildan Activewear in the 3rd quarter valued at $544,000. Tacita Capital Inc boosted its stake in Gildan Activewear by 1,025.5% in the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock worth $615,000 after purchasing an additional 11,896 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock worth $5,899,000 after purchasing an additional 123,578 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in shares of Gildan Activewear by 5.3% in the third quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after buying an additional 12,933 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GIL has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. CIBC raised their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group raised Gildan Activewear from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $60.00 in a report on Friday, January 10th. TD Securities lifted their target price on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus boosted their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.35.

Gildan Activewear Stock Up 0.6 %

Shares of Gildan Activewear stock opened at $49.78 on Tuesday. Gildan Activewear Inc. has a 12 month low of $31.22 and a 12 month high of $50.60. The business has a fifty day simple moving average of $48.30 and a 200 day simple moving average of $45.70. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The stock has a market cap of $7.61 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.59 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The company had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Research analysts predict that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were paid a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s payout ratio is presently 32.41%.

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.