CIBC Private Wealth Group LLC Has $327,000 Stake in Gildan Activewear Inc. (NYSE:GIL)

CIBC Private Wealth Group LLC boosted its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1,263.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,966 shares of the textile maker’s stock after buying an additional 6,455 shares during the period. CIBC Private Wealth Group LLC’s holdings in Gildan Activewear were worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the last quarter. Cooper Financial Group increased its holdings in Gildan Activewear by 2.1% in the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 340 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Gildan Activewear by 19.1% in the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker’s stock valued at $144,000 after buying an additional 492 shares during the period. Plato Investment Management Ltd acquired a new position in Gildan Activewear in the fourth quarter valued at about $28,000. Finally, Willis Investment Counsel boosted its holdings in Gildan Activewear by 1.8% during the fourth quarter. Willis Investment Counsel now owns 35,167 shares of the textile maker’s stock worth $1,655,000 after buying an additional 622 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Securities increased their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup raised their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group increased their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Price Performance

NYSE GIL opened at $39.78 on Friday. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $55.39. The firm’s 50 day moving average is $49.46 and its 200-day moving average is $48.60. The company has a market capitalization of $6.05 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Equities research analysts anticipate that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 2.27%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

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.