OneDigital Investment Advisors LLC Has $293,000 Position in Gildan Activewear Inc. (NYSE:GIL)

OneDigital Investment Advisors LLC grew its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,232 shares of the textile maker’s stock after purchasing an additional 798 shares during the period. OneDigital Investment Advisors LLC’s holdings in Gildan Activewear were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Gildan Activewear by 604.1% during 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 during the period. National Bank of Canada FI boosted its position in Gildan Activewear by 19.5% during the 4th quarter. National Bank of Canada FI now owns 1,668,147 shares of the textile maker’s stock worth $78,571,000 after buying an additional 272,627 shares during the period. Bank of Montreal Can boosted its position in Gildan Activewear by 5.7% during the 4th quarter. Bank of Montreal Can now owns 1,625,963 shares of the textile maker’s stock worth $76,423,000 after buying an additional 87,672 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after buying an additional 1,022,695 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $42.60 on Tuesday. The firm has a market capitalization of $6.46 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The firm has a fifty day simple moving average of $45.64 and a two-hundred day simple moving average of $47.85. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $55.39.

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

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were paid a $0.226 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.90 annualized dividend and a dividend yield of 2.12%. Gildan Activewear’s dividend payout ratio is presently 36.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. CIBC lifted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Barclays initiated coverage on shares of Gildan Activewear in a research report on Monday. They set an “overweight” rating and a $51.00 target price on the stock. Citigroup boosted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus boosted 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, TD Securities boosted 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. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $59.10.

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.