Cooke & Bieler LP Has $440.85 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Cooke & Bieler LP reduced its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 9,369,821 shares of the textile maker’s stock after selling 576,420 shares during the period. Gildan Activewear accounts for about 4.2% of Cooke & Bieler LP’s investment portfolio, making the stock its largest holding. Cooke & Bieler LP owned approximately 0.06% of Gildan Activewear worth $440,850,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in shares of Gildan Activewear in the fourth quarter worth about $28,000. Fifth Third Bancorp raised its stake in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after acquiring an additional 908 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Gildan Activewear by 561.9% in the fourth quarter. Rhumbline Advisers now owns 1,423 shares of the textile maker’s stock worth $67,000 after acquiring an additional 1,208 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Down 0.4 %

Shares of NYSE GIL opened at $49.29 on Tuesday. The stock has a market cap of $7.50 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.76 and a beta of 1.39. The firm has a 50 day moving average price of $50.71 and a 200 day moving average price of $48.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. Gildan Activewear Inc. has a 52-week low of $32.23 and a 52-week high of $55.39.

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

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s payout ratio is presently 36.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. UBS Group lifted their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. TD Securities lifted their price target on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently 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.