DORCHESTER WEALTH MANAGEMENT Co Takes $202,000 Position in Gildan Activewear Inc. (NYSE:GIL)

DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,090 shares of the textile maker’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC bought a new position in shares of Gildan Activewear in the 3rd quarter valued at $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Gildan Activewear by 120.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 900 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Gildan Activewear during the 3rd quarter valued at $106,000. Signaturefd LLC boosted its holdings in shares of Gildan Activewear by 39.3% during the 3rd quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after acquiring an additional 1,158 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Gildan Activewear by 60.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 1,586 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Up 0.3 %

Gildan Activewear stock traded up $0.10 during midday trading on Wednesday, reaching $36.66. The stock had a trading volume of 70,392 shares, compared to its average volume of 824,391. Gildan Activewear Inc. has a 12 month low of $26.98 and a 12 month high of $38.87. The company has a market capitalization of $6.18 billion, a P/E ratio of 12.07, a PEG ratio of 1.40 and a beta of 1.38. The company has a fifty day moving average price of $34.82 and a two-hundred day moving average price of $32.89. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The business had revenue of $782.70 million during the quarter, compared to analyst estimates of $753.35 million. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 8th. Shareholders of record on Wednesday, March 13th will be issued 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 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Tuesday, March 12th. Gildan Activewear’s payout ratio is currently 27.06%.

Analysts Set New Price Targets

Several research firms recently weighed in on GIL. TD Securities raised their price objective on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. CIBC lifted their target price on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Scotiabank lifted their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Citigroup lifted their target price on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Stifel Canada downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.05.

Read Our Latest Research Report on Gildan Activewear

About Gildan Activewear

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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