Zurcher Kantonalbank Zurich Cantonalbank Has $11.57 Million Stake in Gildan Activewear Inc. (NYSE:GIL)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 80.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 245,926 shares of the textile maker's stock after buying an additional 109,993 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.16% of Gildan Activewear worth $11,568,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Haven Private LLC bought a new stake in Gildan Activewear in the 4th quarter valued at $394,000. Candriam S.C.A. acquired a new stake in shares of Gildan Activewear during the fourth quarter worth $940,000. Raymond James Financial Inc. bought a new stake in shares of Gildan Activewear in the fourth quarter valued at about $3,744,000. Verdence Capital Advisors LLC grew its stake in shares of Gildan Activewear by 15.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 18,580 shares of the textile maker's stock valued at $874,000 after acquiring an additional 2,483 shares in the last quarter. Finally, Aigen Investment Management LP grew its stake in shares of Gildan Activewear by 12.0% in the fourth quarter. Aigen Investment Management LP now owns 7,668 shares of the textile maker's stock valued at $361,000 after acquiring an additional 822 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GIL has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Stifel Nicolaus raised their price objective on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group increased their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. BMO Capital Markets boosted their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, TD Securities boosted their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $60.00.

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Gildan Activewear Price Performance

Shares of NYSE:GIL traded down $2.41 during trading on Thursday, hitting $45.94. 438,152 shares of the company were exchanged, compared to its average volume of 600,045. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $6.99 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $55.39. The business's 50 day moving average is $50.75 and its 200-day moving average is $48.57.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same period in the prior year, the company earned $0.75 EPS. The business's quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that Gildan Activewear Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's payout ratio is 36.00%.

Gildan Activewear 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.