Legacy Wealth Asset Management LLC Acquires 18,298 Shares of Gildan Activewear Inc. (NYSE:GIL)

Legacy Wealth Asset Management LLC grew its holdings in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 141.1% during the first quarter, according to the company in its most recent 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 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake 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 acquiring an additional 735 shares during the period. Versant Capital Management Inc increased its position in shares of Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after purchasing an additional 623 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Gildan Activewear by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,325 shares of the textile maker's stock valued at $251,000 after purchasing an additional 739 shares in the last quarter. Polar Asset Management Partners Inc. lifted its position in Gildan Activewear by 55.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock worth $1,244,000 after purchasing an additional 9,450 shares during the period. Finally, Public Employees Retirement System of Ohio lifted 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 worth $2,138,000 after purchasing an additional 32,911 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Trading Down 0.2%

GIL stock traded down $0.11 during mid-day trading on Tuesday, reaching $46.55. The company's stock had a trading volume of 569,164 shares, compared to its average volume of 634,003. Gildan Activewear Inc. has a 12 month low of $36.91 and a 12 month high of $55.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The business's 50 day moving average price is $44.87 and its 200 day moving average price is $47.80. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued 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. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Gildan Activewear's revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Gildan Activewear Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's payout ratio is 34.75%.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of research reports. TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Barclays started coverage on Gildan Activewear in a report on Monday, April 28th. They set an "overweight" rating and a $51.00 price target on the stock. CIBC cut 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. BMO Capital Markets upped their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price target for the company in a research note on Wednesday, May 28th. 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.com, Gildan Activewear has an average rating of "Buy" and a consensus price target 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.