Azzad Asset Management Inc. ADV Invests $2.96 Million in Gildan Activewear, Inc. (NYSE:GIL)

Azzad Asset Management Inc. ADV purchased a new position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 66,959 shares of the textile maker's stock, valued at approximately $2,961,000.

A number of other hedge funds also recently modified their holdings of GIL. Janus Henderson Group PLC grew its holdings in Gildan Activewear by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock valued at $327,950,000 after purchasing an additional 128,674 shares during the period. Norges Bank purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $97,275,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Gildan Activewear by 604.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after acquiring an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Gildan Activewear by 276.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Gildan Activewear by 19.5% in the 4th quarter. National Bank of Canada FI now owns 1,668,147 shares of the textile maker's stock valued at $78,571,000 after acquiring an additional 272,627 shares during the period. Institutional investors own 82.83% of the company's stock.

Analyst Ratings Changes

GIL has been the subject of a number of research reports. Citigroup increased their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective for the company in a research note on Wednesday, May 28th. TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Stifel Nicolaus raised their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, BMO Capital Markets lifted their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of "Buy" and an average price target of $57.91.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $0.68 during trading on Tuesday, hitting $47.19. The stock had a trading volume of 316,295 shares, compared to its average volume of 632,847. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35. Gildan Activewear, Inc. has a 12 month low of $36.91 and a 12 month high of $55.39. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.54 and a beta of 1.20. The business's 50-day moving average is $46.11 and its 200 day moving average is $47.67.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its 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. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The business had revenue of $711.70 million during the quarter, compared to analysts' expectations of $715.29 million. During the same period in the previous year, the business earned $0.59 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Tuesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is 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.