Hillsdale Investment Management Inc. Has $23.77 Million Stock Holdings in Gildan Activewear Inc. (NYSE:GIL)

Hillsdale Investment Management Inc. increased its position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 113.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,716 shares of the textile maker’s stock after buying an additional 268,846 shares during the period. Gildan Activewear accounts for approximately 1.2% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Hillsdale Investment Management Inc.’s holdings in Gildan Activewear were worth $23,774,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GIL. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after buying an additional 1,588,071 shares during the period. CIBC Asset Management Inc grew its stake in shares of Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after buying an additional 1,022,695 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $24,262,000. Bahl & Gaynor Inc. boosted its stake in Gildan Activewear by 192.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker’s stock valued at $34,918,000 after purchasing an additional 488,602 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Gildan Activewear by 3.6% during the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after purchasing an additional 240,375 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $45.11 on Friday. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The company’s 50 day moving average price is $50.64 and its two-hundred day moving average price is $48.61. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The stock has a market cap of $6.86 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.76 and a beta of 1.39.

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

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s payout ratio is 36.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GIL. BMO Capital Markets lifted their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Citigroup lifted their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC lifted their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” 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 company presently has an average rating of “Buy” and an average price target of $60.00.

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.