Gildan Activewear Inc. (TSE:GIL) Plans $0.23 Quarterly Dividend

Key Points

• Gildan Activewear Inc. has declared a quarterly dividend of $0.23 per share, with a yield of 1.27%, to be paid on September 15th to investors of record by August 21st.
• Analyst ratings for Gildan suggest a consensus of "Strong Buy", with recent upgrades from firms like Barclays and Scotiabank, but varied price targets from C$64 to C$83.
• Recent insider trading revealed that senior officers sold a significant number of shares, decreasing their overall stake in the company to 2.26% of the stock owned by insiders.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL announced a quarterly dividend on Thursday, August 21st, RTT News reports. Shareholders of record on Thursday, August 21st will be given a dividend of 0.226 per share on Monday, September 15th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 21st.

Gildan Activewear Trading Up 0.8%

Shares of TSE:GIL traded up C$0.56 during trading on Monday, hitting C$70.55. 335,108 shares of the company's stock were exchanged, compared to its average volume of 419,637. Gildan Activewear has a 1-year low of C$52.77 and a 1-year high of C$79.11. The firm has a 50-day moving average price of C$67.80 and a two-hundred day moving average price of C$67.59. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26. The firm has a market cap of C$7.66 billion, a P/E ratio of 18.92, a PEG ratio of 4.55 and a beta of 1.64.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GIL. Barclays upgraded shares of Gildan Activewear to a "strong-buy" rating in a research report on Monday, April 28th. Desjardins lowered their price target on shares of Gildan Activewear from C$87.00 to C$80.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, National Bankshares reduced their price objective on shares of Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Three analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus target price of C$68.67.

Gildan Activewear Company Profile

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.