Intech Investment Management LLC purchased a new stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,552 shares of the textile maker's stock, valued at approximately $544,000.
Several other institutional investors have also recently modified their holdings of GIL. Riverview Trust Co acquired a new stake in shares of Gildan Activewear during the 3rd quarter worth about $29,000. Blue Trust Inc. boosted its position in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after acquiring an additional 397 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Gildan Activewear in the 2nd quarter worth approximately $51,000. Tobam acquired a new position in Gildan Activewear in the 2nd quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker's stock worth $66,000 after purchasing an additional 274 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.
Gildan Activewear Stock Performance
Shares of NYSE GIL traded up $0.49 during trading on Monday, reaching $50.11. The stock had a trading volume of 455,945 shares, compared to its average volume of 717,373. The firm's 50 day moving average price is $48.22 and its two-hundred day moving average price is $43.14. Gildan Activewear Inc. has a one year low of $30.68 and a one year high of $50.60. The stock has a market cap of $7.72 billion, a PE ratio of 19.81, a P/E/G ratio of 1.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research 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 will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.21%. Gildan Activewear's dividend payout ratio is currently 32.41%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. TD Securities upped their target price on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Monday. CIBC increased their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Citigroup boosted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.05.
View Our Latest Stock Report on GIL
Gildan Activewear Profile
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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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