Avior Wealth Management LLC Has $1.02 Million Position in Gildan Activewear Inc. (NYSE:GIL)

Avior Wealth Management LLC increased its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,804 shares of the textile maker’s stock after buying an additional 3,100 shares during the period. Avior Wealth Management LLC’s holdings in Gildan Activewear were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GIL. Pzena Investment Management LLC boosted its holdings in Gildan Activewear by 1.6% during the third quarter. Pzena Investment Management LLC now owns 10,996,538 shares of the textile maker’s stock valued at $308,013,000 after acquiring an additional 168,601 shares during the period. Vanguard Group Inc. grew its holdings in Gildan Activewear by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock valued at $179,293,000 after buying an additional 97,924 shares during the last quarter. Browning West LP increased its position in Gildan Activewear by 7.1% in the 1st quarter. Browning West LP now owns 6,395,548 shares of the textile maker’s stock worth $212,268,000 after buying an additional 425,000 shares during the period. Cardinal Capital Management Inc. raised its position in Gildan Activewear by 2.5% in the third quarter. Cardinal Capital Management Inc. now owns 2,884,333 shares of the textile maker’s stock worth $81,092,000 after purchasing an additional 69,563 shares in the last quarter. Finally, Guardian Capital LP lifted its stake in Gildan Activewear by 3.2% during the third quarter. Guardian Capital LP now owns 2,739,070 shares of the textile maker’s stock worth $77,128,000 after purchasing an additional 84,744 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GIL. Citigroup raised their target price on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. UBS Group lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $37.00 in a report on Friday, January 5th. Scotiabank raised their price objective on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. CIBC raised their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $35.23 on Thursday. The firm has a 50 day simple moving average of $35.44 and a 200 day simple moving average of $33.50. The firm has a market cap of $5.94 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.36 and a beta of 1.38. Gildan Activewear Inc. has a fifty-two week low of $26.98 and a fifty-two week high of $38.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $782.70 million during the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Sell-side analysts predict that Gildan Activewear Inc. will post 2.94 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.205 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s payout ratio is presently 27.06%.

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.