Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Gildan Activewear Inc. (NYSE:GIL)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 92.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,933 shares of the textile maker's stock after purchasing an additional 65,428 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Gildan Activewear worth $6,405,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in Gildan Activewear in the 1st quarter worth $397,000. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 274 shares during the period. Cooper Financial Group boosted its position in shares of Gildan Activewear by 7.6% during the 2nd quarter. Cooper Financial Group now owns 22,422 shares of the textile maker's stock valued at $850,000 after acquiring an additional 1,592 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Gildan Activewear by 9.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,857 shares of the textile maker's stock valued at $1,056,000 after acquiring an additional 2,512 shares during the period. Finally, ARS Investment Partners LLC raised its position in Gildan Activewear by 34.5% in the second quarter. ARS Investment Partners LLC now owns 141,439 shares of the textile maker's stock worth $5,363,000 after purchasing an additional 36,304 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of GIL stock traded up $0.49 during trading on Monday, hitting $50.11. The company's stock had a trading volume of 455,945 shares, compared to its average volume of 717,373. The business has a fifty day moving average of $48.22 and a 200-day moving average of $43.14. 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 52 week low of $30.68 and a 52 week high of $50.60. The company 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.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data 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 return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same period in the prior year, the company earned $0.74 earnings per share. Gildan Activewear's revenue was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear's dividend payout ratio is 32.41%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GIL shares. Canaccord Genuity Group boosted their target price on Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, November 1st. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. TD Securities increased their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Monday. Finally, Citigroup upped their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $51.05.

Gildan Activewear Company Profile

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.