Mackenzie Financial Corp Acquires 29,193 Shares of Gildan Activewear Inc. (NYSE:GIL)

Mackenzie Financial Corp grew its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.1% in the fourth quarter, HoldingsChannel reports. The fund owned 2,712,021 shares of the textile maker’s stock after buying an additional 29,193 shares during the period. Mackenzie Financial Corp’s holdings in Gildan Activewear were worth $89,732,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. acquired a new position in Gildan Activewear in the fourth quarter valued at about $34,456,000. Vanguard Group Inc. raised its stake in Gildan Activewear by 1.6% during the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock worth $179,293,000 after acquiring an additional 97,924 shares in the last quarter. Galibier Capital Management Ltd. acquired a new position in Gildan Activewear during the third quarter worth about $26,255,000. Intact Investment Management Inc. raised its stake in Gildan Activewear by 39.3% during the third quarter. Intact Investment Management Inc. now owns 100,300 shares of the textile maker’s stock worth $2,811,000 after acquiring an additional 28,300 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Gildan Activewear by 5.0% during the third quarter. Toronto Dominion Bank now owns 1,299,017 shares of the textile maker’s stock worth $36,385,000 after acquiring an additional 61,861 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GIL. Royal Bank of Canada reissued an “outperform” rating and set a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. CIBC boosted their target price on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Stifel Canada downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Scotiabank boosted their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research note on Friday, February 9th. Finally, Citigroup boosted their target price on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.25.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $35.33 on Tuesday. The business’s 50 day simple moving average is $35.36 and its 200 day simple moving average is $33.43. Gildan Activewear Inc. has a one year low of $26.98 and a one year high of $38.87. The stock has a market capitalization of $5.96 billion, a PE ratio of 11.66, a PEG ratio of 1.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $753.35 million. During the same period in the prior year, the business posted $0.65 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Gildan Activewear Inc. will post 2.94 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were issued a $0.205 dividend. The ex-dividend date was Tuesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a yield of 2.32%. Gildan Activewear’s dividend payout ratio is presently 27.06%.

Gildan Activewear Company Profile

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.