Syon Capital LLC Takes $219,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Syon Capital LLC bought a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,624 shares of the textile maker’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also made changes to their positions in GIL. Galibier Capital Management Ltd. purchased a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $26,255,000. Strs Ohio lifted its holdings in shares of Gildan Activewear by 981.8% in the 3rd quarter. Strs Ohio now owns 108,202 shares of the textile maker’s stock valued at $3,046,000 after purchasing an additional 98,200 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Gildan Activewear by 0.8% in the 3rd quarter. CIBC Asset Management Inc now owns 180,453 shares of the textile maker’s stock valued at $5,073,000 after purchasing an additional 1,512 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Gildan Activewear by 61.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 37,351 shares of the textile maker’s stock valued at $1,046,000 after purchasing an additional 14,251 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $34,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on GIL shares. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Citigroup upped their price objective on Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. TD Securities upped their price objective on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Stifel Nicolaus upped their price objective on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, February 22nd. Finally, UBS Group downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $37.00 in a research note on Friday, January 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Gildan Activewear Stock Performance

NYSE GIL opened at $35.30 on Monday. 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 business’s 50 day moving average is $35.57 and its two-hundred day moving average is $33.88. Gildan Activewear Inc. has a 12-month low of $26.98 and a 12-month high of $38.87. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.34 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (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 company had revenue of $782.70 million for the quarter, compared to analysts’ expectations of $753.35 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts expect that Gildan Activewear Inc. will post 2.94 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s dividend payout ratio is currently 27.06%.

Gildan Activewear 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.