Bessemer Group Inc. Purchases 13,182 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Bessemer Group Inc. raised its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 92.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,405 shares of the textile maker's stock after acquiring an additional 13,182 shares during the quarter. Bessemer Group Inc.'s holdings in Gildan Activewear were worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new stake in Gildan Activewear in the fourth quarter worth $28,000. Versant Capital Management Inc grew its stake in shares of Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after acquiring an additional 623 shares during the period. GAMMA Investing LLC increased 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 acquiring an additional 735 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after purchasing an additional 745 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 69.3% during the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock valued at $59,000 after buying an additional 547 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Price Performance

Shares of GIL stock traded up $0.58 during trading hours on Wednesday, hitting $50.15. 481,856 shares of the company's stock were exchanged, compared to its average volume of 629,456. The company has a market capitalization of $7.55 billion, a PE ratio of 19.36, a PEG ratio of 1.59 and a beta of 1.19. 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 $37.16 and a 12-month high of $55.39. The business's 50 day simple moving average is $47.46 and its 200-day simple moving average is $47.60.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. On average, equities research 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 announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is presently 34.75%.

Analyst Ratings Changes

GIL has been the topic of a number of research analyst reports. CIBC decreased their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a research report on Wednesday, May 28th. TD Securities raised their target price 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. Finally, Barclays assumed coverage on shares of Gildan Activewear in a research note on Monday, April 28th. They issued an "overweight" rating and a $51.00 price target for the company. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $57.91.

Gildan Activewear Company 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.