AGF Investments Inc. lessened its holdings in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 45.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,705 shares of the textile maker’s stock after selling 192,332 shares during the period. AGF Investments Inc.’s holdings in Gildan Activewear were worth $7,583,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GIL. PNC Financial Services Group Inc. increased its stake in Gildan Activewear by 19.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,733 shares of the textile maker’s stock valued at $146,000 after buying an additional 765 shares during the last quarter. Boston Private Wealth LLC purchased a new stake in Gildan Activewear in the 3rd quarter valued at about $201,000. Atria Investments LLC purchased a new stake in Gildan Activewear in the 4th quarter valued at about $204,000. Stifel Financial Corp purchased a new stake in Gildan Activewear in the 3rd quarter valued at about $210,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Gildan Activewear in the 2nd quarter valued at about $220,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.

Shares of Gildan Activewear Inc (GIL) opened at $31.09 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 5.13. Gildan Activewear Inc has a one year low of $24.67 and a one year high of $34.19. The stock has a market cap of $6,685.58, a P/E ratio of 17.61, a PEG ratio of 1.21 and a beta of 0.79.

Gildan Activewear announced that its Board of Directors has initiated a stock buyback program on Thursday, November 2nd that authorizes the company to buyback 4,600,000 shares. This buyback authorization authorizes the textile maker to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several research firms have commented on GIL. Royal Bank of Canada increased their price objective on shares of Gildan Activewear from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Wednesday. ValuEngine upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. BMO Capital Markets lowered shares of Gildan Activewear from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $30.00 in a research note on Friday, November 3rd. Macquarie began coverage on shares of Gildan Activewear in a research note on Wednesday, November 1st. They issued a “neutral” rating for the company. Finally, Zacks Investment Research lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.13.

COPYRIGHT VIOLATION NOTICE: This article was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2018/02/15/agf-investments-inc-has-7-58-million-position-in-gildan-activewear-inc-gil.html.

Gildan Activewear Profile

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

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:GIL) (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.