Neuburgh Advisers LLC grew its position in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 11.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,744 shares of the textile maker’s stock after purchasing an additional 384 shares during the period. Neuburgh Advisers LLC’s holdings in Gildan Activewear were worth $139,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Overbrook Management Corp lifted its stake in Gildan Activewear by 25.1% during the first quarter. Overbrook Management Corp now owns 725,104 shares of the textile maker’s stock worth $26,082,000 after purchasing an additional 145,395 shares in the last quarter. MML Investors Services LLC lifted its stake in Gildan Activewear by 5.3% during the first quarter. MML Investors Services LLC now owns 19,242 shares of the textile maker’s stock worth $692,000 after purchasing an additional 976 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Gildan Activewear during the second quarter worth $6,687,000. JPMorgan Chase & Co. lifted its stake in Gildan Activewear by 72.5% during the second quarter. JPMorgan Chase & Co. now owns 832,244 shares of the textile maker’s stock worth $31,999,000 after purchasing an additional 349,750 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Gildan Activewear by 9.5% during the second quarter. Russell Investments Group Ltd. now owns 192,178 shares of the textile maker’s stock worth $7,436,000 after purchasing an additional 16,639 shares in the last quarter. Institutional investors own 67.05% of the company’s stock.
Gildan Activewear stock traded up $0.31 during midday trading on Friday, reaching $37.61. The company’s stock had a trading volume of 10,130 shares, compared to its average volume of 391,628. Gildan Activewear Inc has a fifty-two week low of $28.11 and a fifty-two week high of $40.40. The company has a quick ratio of 1.68, a current ratio of 4.33 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.60 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.32 and a beta of 0.87. The business has a 50-day simple moving average of $37.34 and a 200-day simple moving average of $37.31.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The company had revenue of $801.60 million for the quarter, compared to analysts’ expectations of $793.91 million. During the same period last year, the firm earned $0.52 earnings per share. Gildan Activewear’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Gildan Activewear Inc will post 1.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 15th were paid a $0.236 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, August 14th. Gildan Activewear’s dividend payout ratio is presently 29.03%.
GIL has been the topic of several analyst reports. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Thursday. Desjardins upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. ValuEngine cut Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Securities upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Citigroup increased their price objective on Gildan Activewear from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.16.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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