VELA Investment Management LLC raised its holdings in Gildan Activewear, Inc. (NYSE:GIL – Free Report) (TSE:GIL) by 44.0% in the second quarter, Holdings Channel.com reports. The fund owned 104,710 shares of the textile maker’s stock after buying an additional 32,005 shares during the quarter. Gildan Activewear makes up 1.2% of VELA Investment Management LLC’s investment portfolio, making the stock its 21st largest position. VELA Investment Management LLC’s holdings in Gildan Activewear were worth $5,403,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LP grew its stake in shares of Gildan Activewear by 34.6% during the 2nd quarter. Corient Private Wealth LP now owns 8,868 shares of the textile maker’s stock worth $458,000 after purchasing an additional 2,280 shares during the period. Amundi increased its holdings in shares of Gildan Activewear by 1.1% in the 2nd quarter. Amundi now owns 271,550 shares of the textile maker’s stock valued at $14,647,000 after purchasing an additional 3,070 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Gildan Activewear in the 2nd quarter valued at about $111,000. TD Waterhouse Canada Inc. lifted its stake in shares of Gildan Activewear by 6.7% in the second quarter. TD Waterhouse Canada Inc. now owns 1,947,328 shares of the textile maker’s stock valued at $101,013,000 after purchasing an additional 121,661 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Gildan Activewear in the second quarter valued at about $3,157,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GIL has been the topic of a number of research analyst reports. Stifel Nicolaus set a $83.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Friday, July 31st. TD Securities reaffirmed a “buy” rating on shares of Gildan Activewear in a report on Tuesday, June 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Finally, Scotia upped their price target on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.
Gildan Activewear Trading Up 0.0%
Shares of GIL stock opened at $53.42 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15. Gildan Activewear, Inc. has a fifty-two week low of $46.55 and a fifty-two week high of $73.69. The firm’s 50 day moving average price is $53.71 and its two-hundred day moving average price is $57.31. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 102.73 and a beta of 1.08.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 72.3% compared to the same quarter last year. On average, analysts anticipate that Gildan Activewear, Inc. will post 4.67 EPS for the current year.
Gildan Activewear Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be paid a $0.249 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Gildan Activewear’s payout ratio is 192.31%.
Gildan Activewear Company Profile
Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.
Since its founding in 1984 by Glenn J.
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