Seizert Capital Partners LLC Purchases 29,002 Shares of Gildan Activewear Inc. (NYSE:GIL)

Seizert Capital Partners LLC increased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 34.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,483 shares of the textile maker’s stock after purchasing an additional 29,002 shares during the quarter. Seizert Capital Partners LLC owned 0.07% of Gildan Activewear worth $5,292,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Simcoe Capital Management LLC raised its stake in shares of Gildan Activewear by 10.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Intech Investment Management LLC acquired a new position in Gildan Activewear in the 3rd quarter valued at $544,000. CIBC Asset Management Inc increased its position in Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after acquiring an additional 1,022,695 shares during the period. Tacita Capital Inc raised its position in shares of Gildan Activewear by 1,025.5% in the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock valued at $615,000 after buying an additional 11,896 shares in the last quarter. Finally, Meritage Portfolio Management bought a new stake in shares of Gildan Activewear during the 4th quarter valued at $462,000. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Down 3.7 %

GIL stock opened at $50.95 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $55.39. The business has a 50 day simple moving average of $50.45 and a two-hundred day simple moving average of $48.32. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.76 and a beta of 1.41.

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

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.77%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio (DPR) is 36.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. CIBC raised their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup lifted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. UBS Group boosted their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price 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.