Silvant Capital Management LLC Takes Position in Gildan Activewear, Inc. $GIL

Key Points

• Silvant Capital Management initiated a position in Gildan Activewear during the second quarter, purchasing 47,908 shares valued at approximately $2.47 million. Institutional investors collectively own 82.83% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and three Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $80.00. RBC and UBS recently raised their price targets to $82 and $111, respectively.
• Gildan reported quarterly EPS of $1.28, exceeding estimates of $1.11, while revenue rose 72.3% year over year to $1.58 billion. The company also declared a quarterly dividend of $0.249 per share, equivalent to an annualized yield of about 1.8%.

Silvant Capital Management LLC bought a new position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 47,908 shares of the textile maker's stock, valued at approximately $2,472,000.

A number of other hedge funds also recently made changes to their positions in GIL. AQR Capital Management LLC grew its holdings in Gildan Activewear by 49.3% during the 1st quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker's stock valued at $584,000 after buying an additional 4,360 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Gildan Activewear by 40.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker's stock worth $77,838,000 after acquiring an additional 503,359 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Gildan Activewear by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker's stock worth $8,251,000 after acquiring an additional 4,714 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker's stock valued at $616,000 after acquiring an additional 259 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Gildan Activewear during the 2nd quarter valued at approximately $317,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on GIL. Royal Bank Of Canada reissued an "outperform" rating and issued a $82.00 target price (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Scotia increased their price objective on shares of Gildan Activewear from $65.00 to $67.00 and gave the company a "sector outperform" rating in a research report on Friday, July 31st. Zacks Research raised shares of Gildan Activewear from a "strong sell" rating to a "hold" rating in a research note on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Finally, UBS Group boosted their target price on shares of Gildan Activewear from $110.00 to $111.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

Gildan Activewear Stock Performance

NYSE GIL opened at $55.46 on Friday. The company has a market cap of $10.27 billion, a P/E ratio of 106.66 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93. The business's 50 day moving average price is $53.89 and its 200-day moving average price is $58.64. Gildan Activewear, Inc. has a fifty-two week low of $46.55 and a fifty-two week high of $73.69.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.17. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.Gildan Activewear's revenue was up 72.3% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. Sell-side analysts predict that Gildan Activewear, Inc. will post 4.67 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be issued a $0.249 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 20th. Gildan Activewear's dividend payout ratio (DPR) is 192.31%.

Gildan Activewear Company Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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