Westpac Banking Corp continued to hold its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,462 shares of the textile maker’s stock at the end of the 2nd quarter. Westpac Banking Corp’s holdings in Gildan Activewear were worth $536,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of GIL. Nationwide Fund Advisors purchased a new stake in shares of Gildan Activewear in the first quarter valued at about $1,801,000. Janney Montgomery Scott LLC purchased a new stake in shares of Gildan Activewear in the first quarter valued at about $405,000. Wells Fargo & Company MN boosted its holdings in shares of Gildan Activewear by 73.7% in the first quarter. Wells Fargo & Company MN now owns 105,479 shares of the textile maker’s stock valued at $2,853,000 after acquiring an additional 44,747 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock valued at $101,000 after acquiring an additional 725 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Gildan Activewear by 1.2% in the first quarter. Comerica Bank now owns 13,687 shares of the textile maker’s stock valued at $384,000 after acquiring an additional 164 shares in the last quarter. 72.57% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. CIBC raised shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Monday, June 19th. Canaccord Genuity set a $32.00 target price on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 7th. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of Gildan Activewear in a report on Friday, August 4th. Finally, National Bank Financial downgraded shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $35.29.
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Shares of Gildan Activewear, Inc. (NYSE:GIL) opened at 30.39 on Friday. The stock has a market cap of $6.82 billion, a P/E ratio of 18.39 and a beta of 0.70. Gildan Activewear, Inc. has a 12-month low of $23.55 and a 12-month high of $31.87. The company’s 50-day moving average is $30.62 and its 200-day moving average is $28.93.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The company had revenue of $715.40 million during the quarter, compared to analyst estimates of $753.85 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that Gildan Activewear, Inc. will post $1.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 17th were paid a dividend of $0.094 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Tuesday, August 15th. Gildan Activewear’s dividend payout ratio is presently 22.42%.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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