46,363 Shares in Gildan Activewear, Inc. $GIL Bought by Nykredit A S

Key Points

• Nykredit A/S acquired 46,363 shares of Gildan Activewear during the second quarter, worth approximately $2.4 million. Institutional investors collectively own 82.83% of the company, with several major funds also establishing new positions.
• Gildan reported quarterly earnings of $1.28 per share, exceeding the $1.11 consensus estimate, while revenue rose 72.3% year over year to $1.58 billion, slightly below expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $80 price target. The company also declared a quarterly dividend of $0.249 per share, representing a 2.1% yield.

Nykredit A S purchased a new position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,363 shares of the textile maker's stock, valued at approximately $2,389,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Caisse de depot et placement du Quebec bought a new stake in Gildan Activewear in the second quarter worth about $601,931,000. Jupiter Topco LLC purchased a new position in Gildan Activewear in the second quarter worth $573,363,000. The Manufacturers Life Insurance Company bought a new position in Gildan Activewear during the second quarter valued at approximately $234,764,000. Norges Bank purchased a new position in shares of Gildan Activewear in the fourth quarter worth about $151,018,000. Finally, Brandes Investment Partners LP purchased a new position in shares of Gildan Activewear in the fourth quarter worth $99,870,000. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Up 1.8%

GIL stock opened at $46.99 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01. The firm's 50-day moving average is $52.91 and its 200 day moving average is $55.48. The company has a market capitalization of $8.70 billion, a PE ratio of 90.36 and a beta of 1.08. Gildan Activewear, Inc. has a 12 month low of $45.51 and a 12 month high of $73.69.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.17. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The firm's quarterly revenue was up 72.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. On average, research analysts anticipate that Gildan Activewear, Inc. will post 4.67 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Thursday, August 20th were issued a $0.249 dividend. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear's payout ratio is currently 192.31%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIL. Scotia upped their price objective on shares of Gildan Activewear from $65.00 to $67.00 and gave the stock a "sector outperform" rating in a report on Friday, July 31st. Scotiabank reiterated a "sector outperform" rating and set a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Citigroup restated a "neutral" rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. Stifel Nicolaus set a $83.00 target price on shares of Gildan Activewear and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

About Gildan Activewear

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. Founded in 1984, the company produces and sells everyday basic apparel for consumers, retailers and the decorated-apparel market. Its products include T-shirts, fleece, underwear, socks, hosiery and other activewear and casualwear items.

Gildan markets products through a portfolio of brands that includes Gildan, American Apparel, Comfort Colors, Gold Toe and Peds. The company primarily serves wholesale distributors, screen printers and other apparel decorators, as well as retailers and private-label customers.

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