Gildan Activewear, Inc. (NYSE:GIL) Shares Acquired by Davidson Investment Advisors

Davidson Investment Advisors boosted its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 448,005 shares of the textile maker's stock after buying an additional 10,691 shares during the period. Davidson Investment Advisors owned approximately 0.30% of Gildan Activewear worth $19,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gildan Activewear in the first quarter valued at about $1,072,000. Forge First Asset Management Inc. raised its stake in shares of Gildan Activewear by 108.0% during the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker's stock worth $2,191,000 after buying an additional 24,200 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in Gildan Activewear by 55.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock valued at $1,244,000 after purchasing an additional 9,450 shares during the last quarter. Shell Asset Management Co. raised its stake in Gildan Activewear by 250.0% in the 4th quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker's stock valued at $1,304,000 after purchasing an additional 19,800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Gildan Activewear by 262.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker's stock valued at $2,138,000 after purchasing an additional 32,911 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Trading Up 0.1%

Shares of GIL stock traded up $0.07 during trading hours on Monday, hitting $50.91. 847,378 shares of the company were exchanged, compared to its average volume of 631,932. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $55.39. The firm has a fifty day moving average of $47.95 and a 200 day moving average of $47.66. The company has a quick ratio of 1.59, a current ratio of 3.91 and a debt-to-equity ratio of 1.35. The firm has a market cap of $7.66 billion, a PE ratio of 19.66, a PEG ratio of 1.63 and a beta of 1.19.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly 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. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The firm had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. During the same quarter last year, the firm posted $0.59 earnings per share. Gildan Activewear's revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were issued a $0.226 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.78%. Gildan Activewear's payout ratio is 34.75%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GIL shares. 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 research note on Wednesday, April 30th. Barclays started coverage on shares of Gildan Activewear in a research note on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price for the company. Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 target price for the company in a research note on Wednesday, May 28th. Finally, CIBC cut their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $57.91.

About Gildan Activewear

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.