Gildan Activewear, Inc. (NYSE:GIL) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 433,596 shares of the textile maker's stock after buying an additional 86,464 shares during the period. Envestnet Asset Management Inc. owned 0.29% of Gildan Activewear worth $19,174,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIL. Olde Wealth Management LLC bought a new position in Gildan Activewear in the 1st quarter worth approximately $29,000. Versant Capital Management Inc boosted 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 buying an additional 623 shares during the period. GAMMA Investing LLC boosted 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 buying an additional 735 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after buying an additional 745 shares during the period. Finally, Blue Trust Inc. boosted 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 buying an additional 547 shares during the period. Hedge funds and other institutional investors own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GIL shares. 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 price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. CIBC decreased their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Barclays began coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $57.91.

Gildan Activewear Stock Performance

NYSE GIL traded down $0.76 on Friday, hitting $52.40. 415,776 shares of the company traded hands, compared to its average volume of 634,923. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.69 and a beta of 1.19. The business's 50 day moving average price is $48.97 and its 200-day moving average price is $47.96. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $55.39. 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 (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million during 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%. Gildan Activewear's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. Equities analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.226 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.73%. Gildan Activewear's payout ratio is 34.75%.

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.