Cumberland Partners Ltd Invests $231,000 in Gildan Activewear Inc. (NYSE:GIL)

Cumberland Partners Ltd purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, Holdings Channel.com reports. The firm purchased 4,900 shares of the textile maker’s stock, valued at approximately $231,000.

Other institutional investors have also made changes to their positions in the company. Intact Investment Management Inc. increased its position in shares of Gildan Activewear by 204.8% during the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after purchasing an additional 591,980 shares during the period. National Bank of Canada FI increased its position in shares of Gildan Activewear by 43.8% during the first quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock valued at $65,451,000 after purchasing an additional 537,215 shares during the period. EdgePoint Investment Group Inc. grew its position in Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after acquiring an additional 407,113 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Gildan Activewear by 31.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after acquiring an additional 377,135 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after acquiring an additional 324,304 shares during the period. 82.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GIL shares. Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Securities increased their target price on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets increased their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus increased their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.85.

Gildan Activewear Stock Up 0.3 %

Shares of Gildan Activewear stock opened at $48.85 on Wednesday. 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 company has a market capitalization of $7.53 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.82 and a beta of 1.44. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.58. The business has a 50-day moving average of $46.98 and a two-hundred day moving average of $41.54.

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

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. Gildan Activewear’s payout ratio is 32.41%.

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.