Korea Investment CORP Has $10.42 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Korea Investment CORP lifted its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 164.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,591 shares of the textile maker’s stock after purchasing an additional 137,661 shares during the quarter. Korea Investment CORP owned 0.15% of Gildan Activewear worth $10,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock worth $86,999,000 after buying an additional 1,588,071 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Gildan Activewear by 545.1% in 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 last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Gildan Activewear during the third quarter worth $24,262,000. Bahl & Gaynor Inc. boosted its position in Gildan Activewear by 192.7% during the fourth quarter. Bahl & Gaynor Inc. now owns 742,149 shares of the textile maker’s stock valued at $34,918,000 after purchasing an additional 488,602 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Gildan Activewear by 113.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 505,716 shares of the textile maker’s stock valued at $23,774,000 after purchasing an additional 268,846 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock opened at $44.94 on Monday. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $55.39. The firm has a fifty day simple moving average of $50.21 and a 200-day simple moving average of $48.69. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.76 and a beta of 1.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results 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). The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. On average, sell-side analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be given a $0.226 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s payout ratio is currently 36.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GIL. CIBC raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. TD Securities boosted their target price 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 increased their price target on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.