Davidson Investment Advisors boosted its stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,813 shares of the textile maker’s stock after acquiring an additional 2,775 shares during the period. Davidson Investment Advisors owned 0.11% of Gildan Activewear worth $7,707,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Tobam raised its holdings in Gildan Activewear by 17.0% in the second quarter. Tobam now owns 126,700 shares of the textile maker’s stock valued at $3,888,000 after acquiring an additional 18,400 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Gildan Activewear in the first quarter valued at $696,000. Nationwide Fund Advisors acquired a new stake in Gildan Activewear in the first quarter valued at $1,801,000. Paloma Partners Management Co raised its holdings in Gildan Activewear by 67.3% in the first quarter. Paloma Partners Management Co now owns 15,100 shares of the textile maker’s stock valued at $408,000 after acquiring an additional 6,074 shares in the last quarter. Finally, World Asset Management Inc raised its holdings in Gildan Activewear by 0.7% in the first quarter. World Asset Management Inc now owns 14,512 shares of the textile maker’s stock valued at $392,000 after acquiring an additional 105 shares in the last quarter. 72.59% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on GIL. Zacks Investment Research cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. CIBC raised shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Royal Bank Of Canada cut shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a report on Tuesday, July 11th. Finally, Canaccord Genuity cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Wednesday, July 12th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $35.14.
Gildan Activewear, Inc. (GIL) traded up 0.29% during mid-day trading on Monday, reaching $30.84. 50,445 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $30.64 and its 200 day moving average price is $28.97. Gildan Activewear, Inc. has a 12 month low of $23.55 and a 12 month high of $31.87. The stock has a market capitalization of $6.92 billion, a PE ratio of 18.67 and a beta of 0.70.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $715.40 million during the quarter, compared to analysts’ expectations of $753.85 million. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. Gildan Activewear’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Equities research analysts predict that Gildan Activewear, Inc. will post $1.70 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 17th were given a $0.094 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $0.38 annualized dividend and a yield of 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is currently 22.42%.
Gildan Activewear Company Profile
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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