Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 200,000 Gildan Activewear Inc. (NYSE:GIL)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 200,000 shares of the textile maker’s stock, valued at approximately $6,618,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.12% of Gildan Activewear as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Syon Capital LLC bought a new stake in shares of Gildan Activewear during the 4th quarter worth about $219,000. Virtu Financial LLC bought a new stake in shares of Gildan Activewear during the 4th quarter worth about $859,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Gildan Activewear by 4.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 102,200 shares of the textile maker’s stock worth $3,379,000 after buying an additional 4,700 shares in the last quarter. Onex Canada Asset Management Inc. raised its position in shares of Gildan Activewear by 231.9% during the 4th quarter. Onex Canada Asset Management Inc. now owns 216,728 shares of the textile maker’s stock worth $7,165,000 after buying an additional 151,428 shares in the last quarter. Finally, Parkwood LLC bought a new stake in shares of Gildan Activewear during the 4th quarter worth about $6,789,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on GIL. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Citigroup boosted their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $37.89 on Tuesday. The firm’s 50 day simple moving average is $35.88 and its 200-day simple moving average is $34.82. The company has a market cap of $6.39 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.43 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. Gildan Activewear Inc. has a fifty-two week low of $26.99 and a fifty-two week high of $39.07.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. During the same period last year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, May 22nd. Gildan Activewear’s payout ratio is presently 27.70%.

Gildan Activewear 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.