Mediolanum International Funds Ltd bought a new position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,828 shares of the textile maker's stock, valued at approximately $263,000.
Several other institutional investors have also recently bought and sold shares of GIL. Olde Wealth Management LLC bought a new position in Gildan Activewear in the 1st quarter worth $29,000. Versant Capital Management Inc raised its holdings in Gildan Activewear by 510.7% in the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after acquiring an additional 623 shares during the period. GAMMA Investing LLC raised its holdings in Gildan Activewear by 4,323.5% in 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. Blue Trust Inc. raised its holdings in Gildan Activewear by 69.3% in the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after acquiring an additional 547 shares during the period. Finally, Natixis raised its holdings in Gildan Activewear by 423.8% in the 4th quarter. Natixis now owns 1,540 shares of the textile maker's stock worth $72,000 after acquiring an additional 1,246 shares during the period. Institutional investors own 82.83% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on GIL. Barclays began coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price on the stock. TD Securities raised their price target 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. UBS Group boosted their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday. CIBC dropped their price objective on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, May 28th. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $58.00.
Read Our Latest Stock Report on GIL
Gildan Activewear Price Performance
Shares of Gildan Activewear stock traded down $0.64 during trading on Tuesday, hitting $51.91. 619,857 shares of the company's stock traded hands, compared to its average volume of 439,385. 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 price is $49.32 and its 200 day moving average price is $48.18. Gildan Activewear, Inc. has a twelve month low of $37.16 and a twelve month high of $55.39. The company has a market cap of $7.78 billion, a PE ratio of 20.04, a PEG ratio of 1.69 and a beta of 1.19.
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 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 business had revenue of $711.70 million for the quarter, compared to analyst estimates of $715.29 million. During the same period in the previous year, the business earned $0.59 EPS. The firm's revenue was up 2.3% on a year-over-year basis. Analysts forecast that Gildan Activewear, Inc. will post 3.48 earnings per share for the current year.
Gildan Activewear Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were given a $0.226 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.74%. Gildan Activewear's dividend payout ratio (DPR) is presently 34.75%.
Gildan Activewear Profile
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Free Report)
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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