National Bank of Canada FI Has $39.71 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

National Bank of Canada FI trimmed its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,225,546 shares of the textile maker’s stock after selling 453,710 shares during the quarter. National Bank of Canada FI owned approximately 0.72% of Gildan Activewear worth $39,714,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Todd Asset Management LLC boosted its position in Gildan Activewear by 4.8% in the fourth quarter. Todd Asset Management LLC now owns 102,200 shares of the textile maker’s stock worth $3,379,000 after purchasing an additional 4,700 shares during the last quarter. M&T Bank Corp bought a new stake in shares of Gildan Activewear in the fourth quarter valued at $209,000. Natixis Advisors L.P. raised its stake in shares of Gildan Activewear by 1,319.8% in the fourth quarter. Natixis Advisors L.P. now owns 187,467 shares of the textile maker’s stock valued at $6,197,000 after buying an additional 174,263 shares during the period. Savant Capital LLC bought a new stake in shares of Gildan Activewear in the fourth quarter valued at $395,000. Finally, Syon Capital LLC bought a new stake in shares of Gildan Activewear during the 4th quarter valued at $219,000. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GIL. CIBC upped their price objective on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. 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 note on Wednesday, March 20th. Scotiabank increased their target price on Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. Stifel Nicolaus raised their price target on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Finally, Citigroup raised their price target on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Gildan Activewear has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Stock Performance

Gildan Activewear stock traded up $0.22 during midday trading on Monday, hitting $33.32. 159,106 shares of the company’s stock were exchanged, compared to its average volume of 802,852. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. The firm’s 50 day simple moving average is $35.51 and its 200 day simple moving average is $34.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. Gildan Activewear Inc. has a 12-month low of $26.98 and a 12-month high of $38.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Equities research analysts predict that Gildan Activewear Inc. will post 2.94 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be given a $0.205 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 2.46%. Gildan Activewear’s dividend payout ratio is presently 27.70%.

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.