BlackRock Inc. Takes $15.28 Million Position in Gildan Activewear, Inc. $GIL

BlackRock Inc. bought a new position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 296,092 shares of the textile maker's stock, valued at approximately $15,278,000. BlackRock Inc. owned approximately 0.16% of Gildan Activewear at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Deutsche Bank AG purchased a new stake in Gildan Activewear in the 2nd quarter valued at $16,695,000. Global Retirement Partners LLC bought a new stake in Gildan Activewear in the 2nd quarter worth about $75,000. Alberta Investment Management Corp bought a new stake in Gildan Activewear in the 2nd quarter worth about $41,624,000. Fielder Capital Group LLC purchased a new stake in Gildan Activewear in the 2nd quarter valued at about $258,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $11,651,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Securities restated a "buy" rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gildan Activewear in a research report on Thursday, August 13th. Scotia lifted their price target on Gildan Activewear from $65.00 to $67.00 and gave the stock a "sector outperform" rating in a report on Friday, July 31st. Citigroup reissued a "neutral" rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. Finally, Scotiabank restated a "sector outperform" rating and issued a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $80.00.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $53.70 on Friday. The business's 50 day simple moving average is $53.70 and its 200 day simple moving average is $57.45. Gildan Activewear, Inc. has a 12 month low of $46.55 and a 12 month high of $73.69. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 103.27 and a beta of 1.08. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15.

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

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be paid a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, August 20th. Gildan Activewear's payout ratio is currently 192.31%.

Gildan Activewear Company Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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