Public Employees Retirement System of Ohio bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,540 shares of the textile maker's stock, valued at approximately $591,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Gildan Activewear by 11.7% in the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker's stock valued at $271,000 after purchasing an additional 747 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Gildan Activewear by 20.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 15,093 shares of the textile maker's stock worth $572,000 after acquiring an additional 2,550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gildan Activewear by 38.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,505 shares of the textile maker's stock worth $2,674,000 after purchasing an additional 19,549 shares during the last quarter. Tobam purchased a new position in shares of Gildan Activewear in the second quarter worth $53,000. Finally, Hara Capital LLC purchased a new stake in Gildan Activewear during the 2nd quarter valued at $532,000. 82.83% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on GIL shares. TD Securities increased their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. BMO Capital Markets increased their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Citigroup increased their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a report on Friday, November 1st. CIBC upped their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus increased their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.05.
Get Our Latest Research Report on GIL
Gildan Activewear Stock Performance
Shares of NYSE GIL traded up $0.01 during midday trading on Friday, reaching $46.78. The company had a trading volume of 712,813 shares, compared to its average volume of 706,804. The stock has a market cap of $7.15 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.82 and a beta of 1.40. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a 1 year low of $30.68 and a 1 year high of $50.60. The business's 50-day simple moving average is $48.59 and its 200 day simple moving average is $44.18.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The company had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.
Gildan Activewear Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 32.41%.
About Gildan Activewear
(
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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.
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