ASR Vermogensbeheer N.V. Buys Shares of 7,933 Gildan Activewear, Inc. (NYSE:GIL)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Gildan Activewear, purchasing 7,933 shares valued at approximately $351,000 during Q1.
• Gildan Activewear reported earnings of $0.97 per share, exceeding estimates, with a revenue of $918.50 million for the last quarter, up 6.5% year-over-year.
• The company declared a quarterly dividend of $0.226 per share, with a dividend yield of 1.8%, scheduled for payment on September 15th.

ASR Vermogensbeheer N.V. bought a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,933 shares of the textile maker's stock, valued at approximately $351,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GIL. Olde Wealth Management LLC acquired a new stake in shares of Gildan Activewear during the 1st quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in Gildan Activewear by 510.7% in the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after purchasing an additional 623 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Gildan Activewear by 4,323.5% in the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after purchasing an additional 735 shares during the last quarter. Blue Trust Inc. lifted its holdings in Gildan Activewear by 69.3% in the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after purchasing an additional 547 shares during the last quarter. Finally, Natixis lifted its holdings in Gildan Activewear by 423.8% in the 4th quarter. Natixis now owns 1,540 shares of the textile maker's stock worth $72,000 after purchasing an additional 1,246 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Gildan Activewear Stock Performance

Shares of GIL stock traded down $1.83 during trading on Tuesday, hitting $49.11. The company's stock had a trading volume of 2,705,707 shares, compared to its average volume of 562,102. The business has a fifty day moving average of $49.99 and a 200-day moving average of $48.31. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $55.39. The company has a market cap of $7.33 billion, a PE ratio of 15.59, a P/E/G ratio of 1.63 and a beta of 1.17. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%. The firm had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. During the same period last year, the company earned $0.74 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 21st will be paid a $0.226 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.8%. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank upped their price target on Gildan Activewear from $55.00 to $59.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. TD Securities upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Barclays raised their price target on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Cfra Research raised Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Finally, National Bankshares raised their price target on Gildan Activewear from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.33.

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.