Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC increased its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 141.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,263 shares of the textile maker's stock after purchasing an additional 18,298 shares during the period. Legacy Wealth Asset Management LLC's holdings in Gildan Activewear were worth $1,382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GIL. Forge First Asset Management Inc. lifted its stake in 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 valued at $2,191,000 after acquiring an additional 24,200 shares during the period. Shell Asset Management Co. lifted its stake in Gildan Activewear by 250.0% during 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 period. Polar Asset Management Partners Inc. lifted its stake in Gildan Activewear by 55.6% during 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 period. CIBC Asset Management Inc lifted its stake in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock valued at $57,403,000 after acquiring an additional 1,022,695 shares during the period. Finally, Truist Financial Corp lifted its stake in Gildan Activewear by 76.8% during the 4th quarter. Truist Financial Corp now owns 19,401 shares of the textile maker's stock valued at $913,000 after acquiring an additional 8,430 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GIL shares. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Citigroup lifted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Barclays started coverage on shares of Gildan Activewear in a report on Monday, April 28th. They set an "overweight" rating and a $51.00 target price for the company. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, TD Securities lifted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $57.91.

Gildan Activewear Price Performance

NYSE GIL traded up $0.17 on Thursday, hitting $48.02. The company had a trading volume of 157,189 shares, compared to its average volume of 632,578. The company has a market capitalization of $7.26 billion, a PE ratio of 19.21, a PEG ratio of 1.76 and a beta of 1.21. The company's fifty day moving average price is $44.97 and its 200-day moving average price is $47.79. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. Gildan Activewear Inc. has a 12-month low of $36.91 and a 12-month high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results 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 company had revenue of $711.70 million during the quarter, compared to analyst estimates of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. As a group, analysts predict 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, June 16th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear's payout ratio is 34.75%.

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.