Advisors Asset Management Inc. acquired a new position in Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,045 shares of the textile maker’s stock, valued at approximately $145,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Clark Capital Management Group Inc. bought a new position in Gildan Activewear in the 1st quarter worth approximately $31,558,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Gildan Activewear by 86.1% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 74,160 shares of the textile maker’s stock worth $2,839,000 after buying an additional 34,313 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Gildan Activewear by 20.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 102,879 shares of the textile maker’s stock worth $2,904,000 after buying an additional 17,213 shares during the period. Cooke & Bieler LP boosted its holdings in Gildan Activewear by 1.5% in the 1st quarter. Cooke & Bieler LP now owns 9,042,345 shares of the textile maker’s stock worth $338,907,000 after buying an additional 131,257 shares during the period. Finally, Hudson Way Capital Management LLC lifted its stake in Gildan Activewear by 20.4% in the 1st quarter. Hudson Way Capital Management LLC now owns 1,051,141 shares of the textile maker’s stock worth $39,397,000 after purchasing an additional 178,451 shares in the last quarter. 74.70% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have issued reports on GIL shares. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $37.00 to $42.50 in a research note on Monday, August 8th. Desjardins reiterated a “buy” rating on shares of Gildan Activewear in a research note on Friday, October 14th. StockNews.com started coverage on shares of Gildan Activewear in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. National Bank Financial increased their target price on shares of Gildan Activewear from C$43.00 to C$45.00 in a research note on Monday, October 17th. Finally, TD Securities lowered their target price on shares of Gildan Activewear from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, October 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.
Gildan Activewear Stock Performance
Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last issued its earnings results on Thursday, November 3rd. The textile maker reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The company had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $836.47 million. Gildan Activewear had a net margin of 19.11% and a return on equity of 32.33%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. On average, equities research analysts expect that Gildan Activewear Inc. will post 3.13 earnings per share for the current fiscal year.
Gildan Activewear Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.169 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, November 22nd. Gildan Activewear’s payout ratio is 20.30%.
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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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