Commonwealth Bank of Australia increased its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,414 shares of the textile maker’s stock after purchasing an additional 303 shares during the quarter. Commonwealth Bank of Australia’s holdings in Gildan Activewear were worth $103,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GIL. US Bancorp DE grew its stake 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 worth $101,000 after purchasing an additional 725 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Gildan Activewear by 133.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock valued at $106,000 after acquiring an additional 1,988 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Gildan Activewear by 43.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock valued at $107,000 after acquiring an additional 1,198 shares during the last quarter. Global X Management Co. LLC boosted its position in Gildan Activewear by 33.1% during the second quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock valued at $110,000 after acquiring an additional 893 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in Gildan Activewear during the second quarter valued at $209,000. 72.59% of the stock is currently owned by institutional investors.
A number of analysts have commented on GIL shares. Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a research report on Friday, July 7th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of Gildan Activewear in a research report on Friday, August 4th. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, August 2nd. Finally, TD Securities cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and upped their price target for the company from $32.00 to $33.00 in a research report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.14.
Shares of Gildan Activewear, Inc. (NYSE:GIL) opened at 30.80 on Thursday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 18.64 and a beta of 0.70. The company has a 50 day moving average of $30.68 and a 200-day moving average of $29.09. Gildan Activewear, Inc. has a 12-month low of $23.55 and a 12-month high of $31.87.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Analysts predict that Gildan Activewear, Inc. will post $1.70 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders 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 dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 15th. Gildan Activewear’s payout ratio is 22.42%.
Gildan Activewear 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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