Zions Bancorporation National Association UT Takes $1.52 Million Position in Gildan Activewear, Inc. (NYSE:GIL)

Key Points

• Zions Bancorporation National Association UT has acquired a stake in Gildan Activewear, purchasing 34,269 shares valued at approximately $1.52 million.
• Gildan Activewear reported a quarterly earnings per share of $0.97, exceeding analyst estimates, with revenue of $918.50 million during the quarter.
• The company is set to pay a quarterly dividend of $0.226 per share on September 15th, representing an annualized dividend yield of 1.8%.

Zions Bancorporation National Association UT acquired a new position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 34,269 shares of the textile maker's stock, valued at approximately $1,515,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIL. Mirae Asset Global Investments Co. Ltd. bought a new position in Gildan Activewear during the first quarter worth about $1,072,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Gildan Activewear during the first quarter worth about $474,000. Polar Asset Management Partners Inc. boosted its holdings 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 buying an additional 9,450 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Gildan Activewear by 250.0% during the fourth quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker's stock worth $1,304,000 after buying an additional 19,800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings 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 buying an additional 32,911 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Up 11.8%

Gildan Activewear stock traded up $5.80 during midday trading on Wednesday, reaching $54.92. The stock had a trading volume of 4,668,439 shares, compared to its average volume of 681,842. The firm's fifty day simple moving average is $49.99 and its 200-day simple moving average is $48.31. Gildan Activewear, Inc. has a 1-year low of $37.16 and a 1-year high of $55.97. The stock has a market capitalization of $8.20 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. Gildan Activewear's payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GIL shares. CIBC lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Cfra Research upgraded Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Barclays lifted their price objective on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday. Finally, TD Securities lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Gildan Activewear currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.33.

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.