Gildan Activewear Inc. (NYSE:GIL) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 1.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,401,045 shares of the textile maker's stock after purchasing an additional 97,924 shares during the quarter. Vanguard Group Inc. owned about 3.76% of Gildan Activewear worth $179,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GIL. Pzena Investment Management LLC raised its stake in shares of Gildan Activewear by 1.6% in the third quarter. Pzena Investment Management LLC now owns 10,996,538 shares of the textile maker's stock worth $308,013,000 after purchasing an additional 168,601 shares during the last quarter. Coliseum Capital Management LLC lifted its stake in Gildan Activewear by 23.9% during the 2nd quarter. Coliseum Capital Management LLC now owns 10,662,735 shares of the textile maker's stock valued at $343,767,000 after acquiring an additional 2,060,229 shares during the period. Browning West LP boosted its holdings in shares of Gildan Activewear by 3.9% during the 2nd quarter. Browning West LP now owns 6,645,548 shares of the textile maker's stock valued at $214,252,000 after acquiring an additional 250,000 shares during the last quarter. Cardinal Capital Management Inc. grew its stake in shares of Gildan Activewear by 2.5% in the third quarter. Cardinal Capital Management Inc. now owns 2,884,333 shares of the textile maker's stock worth $81,092,000 after acquiring an additional 69,563 shares during the period. Finally, Guardian Capital LP raised its holdings in shares of Gildan Activewear by 3.2% during the third quarter. Guardian Capital LP now owns 2,739,070 shares of the textile maker's stock valued at $77,128,000 after purchasing an additional 84,744 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Price Performance

Gildan Activewear stock traded down $0.04 during mid-day trading on Monday, hitting $37.10. The stock had a trading volume of 416,066 shares, compared to its average volume of 841,704. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. The firm's 50 day moving average is $34.73 and its 200 day moving average is $32.83. The firm has a market capitalization of $6.25 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.41 and a beta of 1.38. Gildan Activewear Inc. has a one year low of $26.98 and a one year high of $38.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The firm had revenue of $782.70 million during the quarter, compared to analysts' expectations of $753.35 million. During the same quarter last year, the business posted $0.65 earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Gildan Activewear Inc. will post 2.94 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 8th. Investors of record on Wednesday, March 13th will be given a dividend of $0.205 per share. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, March 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.21%. Gildan Activewear's dividend payout ratio is currently 27.06%.

Wall Street Analyst Weigh In

GIL has been the subject of a number of research reports. CIBC boosted their target price on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. UBS Group downgraded Gildan Activewear from a "buy" rating to a "neutral" rating and cut their price target for the company from $40.00 to $37.00 in a research note on Friday, January 5th. Scotiabank increased their price objective on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a "sector outperform" rating in a research note on Friday, February 9th. Edward Jones lowered shares of Gildan Activewear from a "buy" rating to a "hold" rating in a research report on Thursday, December 7th. Finally, Citigroup increased their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.05.

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.