Public Sector Pension Investment Board Increases Stock Position in Gildan Activewear, Inc. $GIL

Public Sector Pension Investment Board lifted its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 257.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,176 shares of the textile maker’s stock after buying an additional 35,436 shares during the quarter. Public Sector Pension Investment Board’s holdings in Gildan Activewear were worth $2,842,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GIL. Bank of Nova Scotia Trust Co. boosted its stake in Gildan Activewear by 2.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock worth $418,000 after acquiring an additional 207 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Gildan Activewear by 2.8% during the third quarter. Signaturefd LLC now owns 7,659 shares of the textile maker’s stock valued at $443,000 after purchasing an additional 209 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Gildan Activewear by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,612,000 after purchasing an additional 231 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Gildan Activewear by 12.1% in the 3rd quarter. Blue Trust Inc. now owns 2,268 shares of the textile maker’s stock worth $131,000 after buying an additional 245 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock valued at $616,000 after buying an additional 259 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on GIL shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $79.00 target price on shares of Gildan Activewear in a report on Friday. National Bank Financial increased their price objective on shares of Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Barclays reiterated an “overweight” rating and issued a $70.00 target price (up previously from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. Finally, UBS Group reissued a “buy” rating and set a $110.00 price target (up previously from $80.00) on shares of Gildan Activewear in a research report on Tuesday, December 16th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $71.44 on Friday. The firm’s 50-day moving average price is $65.93 and its 200-day moving average price is $60.15. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $73.69. The company has a market cap of $13.23 billion, a PE ratio of 22.82 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.