Montrusco Bolton Investments Inc. grew its stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 10.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 175,447 shares of the textile maker’s stock after purchasing an additional 16,188 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Gildan Activewear were worth $5,687,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Gildan Activewear by 18.2% during the second quarter. FMR LLC now owns 12,177,081 shares of the textile maker’s stock worth $374,195,000 after purchasing an additional 1,875,214 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Gildan Activewear during the second quarter worth about $266,358,000. Vanguard Group Inc. boosted its holdings in shares of Gildan Activewear by 3.9% during the second quarter. Vanguard Group Inc. now owns 4,927,849 shares of the textile maker’s stock worth $151,433,000 after purchasing an additional 185,026 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Gildan Activewear by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 3,913,265 shares of the textile maker’s stock worth $121,819,000 after purchasing an additional 278,852 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Gildan Activewear by 1.1% during the third quarter. Mackenzie Financial Corp now owns 1,848,210 shares of the textile maker’s stock worth $57,812,000 after purchasing an additional 19,653 shares during the period. 72.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gildan Activewear Inc (NYSE:GIL) opened at $32.57 on Friday. The company has a quick ratio of 1.72, a current ratio of 5.13 and a debt-to-equity ratio of 0.34. Gildan Activewear Inc has a 1-year low of $23.55 and a 1-year high of $32.83. The company has a market cap of $7,102.46, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, November 2nd. The textile maker reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The business had revenue of $716.40 million during the quarter, compared to analyst estimates of $748.86 million. During the same period last year, the business posted $0.50 earnings per share. Gildan Activewear’s quarterly revenue was up .2% compared to the same quarter last year. equities analysts anticipate that Gildan Activewear Inc will post 1.71 EPS for the current fiscal year.
Gildan Activewear announced that its Board of Directors has approved a stock buyback program on Thursday, November 2nd that authorizes the company to repurchase 4,600,000 shares. This repurchase authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently weighed in on GIL shares. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, September 15th. BMO Capital Markets reiterated a “buy” rating and set a $34.00 target price on shares of Gildan Activewear in a report on Friday, October 20th. Macquarie started coverage on shares of Gildan Activewear in a report on Wednesday, November 1st. They set a “neutral” rating for the company. Royal Bank of Canada reiterated a “hold” rating on shares of Gildan Activewear in a report on Tuesday, November 7th. Finally, Bank of America reiterated a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a report on Friday, December 8th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.00.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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