XTX Topco Ltd Acquires 35,857 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Key Points

• XTX Topco Ltd increased its holdings in Gildan Activewear by 177.3% during the 1st quarter, owning 56,085 shares valued at approximately $2.48 million.
• Several hedge funds, including Janus Henderson Group PLC and The Manufacturers Life Insurance Company, have also increased their stakes in Gildan Activewear, with institutional investors owning 82.83% of the stock.
• Analyst price targets for Gildan Activewear vary, with TD Securities raising their target price to $60.00 and UBS Group lifting it to $70.00, indicating overall positive sentiment about the stock.

XTX Topco Ltd boosted its stake in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 177.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,085 shares of the textile maker's stock after purchasing an additional 35,857 shares during the quarter. XTX Topco Ltd's holdings in Gildan Activewear were worth $2,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Olde Wealth Management LLC acquired a new position in Gildan Activewear in the 1st quarter worth about $29,000. Versant Capital Management Inc lifted its holdings in 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 buying an additional 623 shares during the period. GAMMA Investing LLC lifted its holdings in Gildan Activewear by 4,323.5% during 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. Blue Trust Inc. lifted its holdings in Gildan Activewear by 69.3% during 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. Finally, Natixis lifted its holdings in Gildan Activewear by 423.8% during the 4th quarter. Natixis now owns 1,540 shares of the textile maker's stock worth $72,000 after buying an additional 1,246 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GIL. Scotiabank lifted their target price on Gildan Activewear from $55.00 to $59.00 and gave the stock a "sector outperform" rating in a report on Friday. CIBC increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a report on Friday. National Bankshares increased their price target on Gildan Activewear from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday. TD Securities increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays increased their price target on Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear currently has an average rating of "Buy" and a consensus price target of $62.45.

Gildan Activewear Price Performance

GIL stock traded up $0.62 during mid-day trading on Friday, reaching $51.13. 781,511 shares of the company traded hands, compared to its average volume of 506,649. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59. The company has a market capitalization of $7.66 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.64 and a beta of 1.17. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $55.39. The company has a fifty day moving average price of $49.48 and a 200-day moving average price of $48.25.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 34.00% and a net margin of 14.55%. The company's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. As a group, analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

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%.

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.