Homestead Advisers Corp Raises Stock Position in Gildan Activewear, Inc. (NYSE:GIL)

Homestead Advisers Corp lifted its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 15.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,300 shares of the textile maker's stock after acquiring an additional 15,600 shares during the quarter. Homestead Advisers Corp owned 0.08% of Gildan Activewear worth $5,231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gildan Activewear in the 1st quarter valued at about $1,072,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Gildan Activewear during the 1st quarter valued at approximately $474,000. Polar Asset Management Partners Inc. boosted its holdings in shares of 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 acquiring an additional 9,450 shares during the last quarter. Shell Asset Management Co. boosted its holdings in shares of 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 acquiring an additional 19,800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Gildan Activewear by 262.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker's stock valued at $2,138,000 after buying an additional 32,911 shares during the period. Institutional investors own 82.83% of the company's stock.

Gildan Activewear Trading Up 0.3%

NYSE:GIL traded up $0.15 on Tuesday, reaching $51.76. The stock had a trading volume of 122,774 shares, compared to its average volume of 632,054. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.69 and a beta of 1.19. Gildan Activewear, Inc. has a 12-month low of $37.16 and a 12-month high of $55.39. 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 firm's fifty day moving average is $48.97 and its two-hundred day moving average is $47.96.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $711.70 million for the quarter, compared to analysts' expectations of $715.29 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. Equities analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were given a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is 34.75%.

Analyst Upgrades and Downgrades

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

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.

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