JCIC Asset Management Inc. Makes New Investment in Gildan Activewear Inc. (NYSE:GIL)

JCIC Asset Management Inc. acquired a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,925 shares of the textile maker’s stock, valued at approximately $3,853,000. Gildan Activewear accounts for approximately 1.6% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 22nd largest holding. JCIC Asset Management Inc. owned about 0.05% of Gildan Activewear at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC increased its holdings in Gildan Activewear by 3.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares in the last quarter. Aristides Capital LLC raised its position in shares of Gildan Activewear by 4.3% during the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after purchasing an additional 314 shares during the last quarter. CWM LLC lifted its stake in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after buying an additional 318 shares in the last quarter. Cooper Financial Group boosted its holdings in Gildan Activewear by 2.1% in the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after buying an additional 340 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after buying an additional 397 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Trading Down 0.5 %

Shares of NYSE:GIL traded down $0.26 during midday trading on Monday, reaching $48.04. 511,794 shares of the company’s stock were exchanged, compared to its average volume of 471,113. The firm’s 50 day simple moving average is $48.30 and its two-hundred day simple moving average is $45.22. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.82 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a dividend of $0.152 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.27%. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIL. UBS Group raised Gildan Activewear from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $60.00 in a research note on Friday. Citigroup upped their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, TD Securities raised their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear has an average rating of “Buy” and a consensus target price of $53.35.

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.