Canada Pension Plan Investment Board Acquires 34,600 Shares of Gildan Activewear Inc. (NYSE:GIL)

Canada Pension Plan Investment Board boosted its position in shares of Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) by 8.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,460 shares of the textile maker’s stock after buying an additional 34,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.24% of Gildan Activewear worth $11,896,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GIL. Coliseum Capital Management LLC grew its stake in Gildan Activewear by 23.9% during the second quarter. Coliseum Capital Management LLC now owns 10,662,735 shares of the textile maker’s stock worth $343,767,000 after buying an additional 2,060,229 shares in the last quarter. Norges Bank acquired a new stake in Gildan Activewear during the fourth quarter worth about $55,337,000. Bank of Montreal Can acquired a new stake in Gildan Activewear during the second quarter worth about $54,247,000. BlackRock Inc. grew its stake in Gildan Activewear by 115.5% during the first quarter. BlackRock Inc. now owns 2,602,095 shares of the textile maker’s stock worth $86,364,000 after buying an additional 1,394,775 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Gildan Activewear by 85.0% during the first quarter. The Manufacturers Life Insurance Company now owns 2,191,716 shares of the textile maker’s stock worth $82,339,000 after buying an additional 1,007,107 shares in the last quarter. 79.09% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

GIL opened at $34.65 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.50 and a quick ratio of 0.93. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.32 and a beta of 1.38. The firm’s fifty day moving average price is $33.19 and its two-hundred day moving average price is $31.48. Gildan Activewear Inc. has a 1 year low of $26.98 and a 1 year high of $37.65.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GIL. StockNews.com upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Royal Bank of Canada raised their price target on shares of Gildan Activewear from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Edward Jones lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. TD Securities raised their price target on shares of Gildan Activewear from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, Stifel Canada lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.41.

Check Out Our Latest Stock Analysis on Gildan Activewear

Gildan Activewear Company Profile

(Free Report)

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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

See Also

Want to see what other hedge funds are holding GIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL).

Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.