Wealth Enhancement Advisory Services LLC Buys 20,523 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Wealth Enhancement Advisory Services LLC grew its position in Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 385.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,848 shares of the textile maker's stock after purchasing an additional 20,523 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Gildan Activewear were worth $1,143,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Forge First Asset Management Inc. lifted its stake in shares of 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 buying an additional 24,200 shares in the last quarter. Polar Asset Management Partners Inc. increased its position in shares of 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 purchasing an additional 9,450 shares during the last quarter. Shell Asset Management Co. boosted its stake 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 purchasing an additional 19,800 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Gildan Activewear by 80.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker's stock valued at $11,568,000 after purchasing an additional 109,993 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of research analyst reports. CIBC reduced their price target on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. TD Securities boosted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Barclays started coverage on Gildan Activewear in a report on Monday, April 28th. They issued an "overweight" rating and a $51.00 target price for the company. Finally, Scotiabank raised Gildan Activewear to a "strong-buy" rating and set a $55.00 price target on the stock in a report on Wednesday, May 28th. 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, the stock has an average rating of "Buy" and a consensus price target of $57.91.

Gildan Activewear Price Performance

GIL stock traded up $0.58 during trading on Wednesday, reaching $50.15. The company's stock had a trading volume of 481,856 shares, compared to its average volume of 665,449. The company's fifty day moving average is $47.46 and its 200-day moving average is $47.60. The company has a market capitalization of $7.55 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.58 and a beta of 1.19. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $55.39. The company has a quick ratio of 1.59, a current ratio of 3.91 and a debt-to-equity ratio of 1.35.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. On average, research analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share 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 dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is 34.75%.

Gildan Activewear Company 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.