Sumitomo Mitsui Trust Group Inc. Takes $474,000 Position in Gildan Activewear, Inc. (NYSE:GIL)

Sumitomo Mitsui Trust Group Inc. purchased a new position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,714 shares of the textile maker's stock, valued at approximately $474,000.

A number of other institutional investors have also made changes to their positions in GIL. Syon Capital LLC raised its holdings in Gildan Activewear by 3.9% in the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock worth $307,000 after purchasing an additional 242 shares during the period. Huntington National Bank increased its position in shares of Gildan Activewear by 16.4% in the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock valued at $132,000 after buying an additional 395 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Gildan Activewear by 19.1% in the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker's stock valued at $144,000 after acquiring an additional 492 shares during the period. Blue Trust Inc. increased its holdings in shares of Gildan Activewear by 69.3% in the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after acquiring an additional 547 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after acquiring an additional 623 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GIL. Barclays began coverage on Gildan Activewear in a report on Monday, April 28th. They set an "overweight" rating and a $51.00 price objective on the stock. TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective for the company in a research report on Wednesday, May 28th. Finally, CIBC dropped their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $57.91.

Gildan Activewear Stock Up 0.1%

Shares of GIL stock traded up $0.07 during trading on Monday, reaching $50.91. The company's stock had a trading volume of 847,378 shares, compared to its average volume of 631,932. Gildan Activewear, Inc. has a one year low of $37.16 and a one year high of $55.39. The business has a fifty day moving average price of $47.95 and a 200-day moving average price of $47.66. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a quick ratio of 1.59, a current ratio of 3.91 and a debt-to-equity ratio of 1.35.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to analysts' expectations of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. Analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a dividend of $0.226 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.78%. Gildan Activewear's dividend payout ratio (DPR) is presently 34.75%.

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.