1832 Asset Management L.P. Buys 5,695 Shares of Gildan Activewear Inc. (NYSE:GIL)

1832 Asset Management L.P. grew its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,368 shares of the textile maker’s stock after buying an additional 5,695 shares during the period. 1832 Asset Management L.P. owned 0.09% of Gildan Activewear worth $5,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its position in shares of Gildan Activewear by 86.5% during the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares during the period. Natixis bought a new position in shares of Gildan Activewear in the first quarter worth approximately $51,000. UniSuper Management Pty Ltd increased its position in shares of Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after purchasing an additional 900 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Gildan Activewear by 529.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after purchasing an additional 1,863 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Gildan Activewear in the first quarter worth approximately $84,000. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Trading Up 2.3 %

Shares of NYSE:GIL traded up $0.90 during trading on Friday, reaching $39.93. 490,971 shares of the company traded hands, compared to its average volume of 428,606. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.49 and a beta of 1.43. Gildan Activewear Inc. has a 52-week low of $26.99 and a 52-week high of $40.24. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average is $38.09 and its 200-day moving average is $35.80.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $695.80 million during the quarter, compared to analyst estimates of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, May 23rd were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.05%. Gildan Activewear’s dividend payout ratio is presently 27.36%.

Wall Street Analysts Forecast Growth

GIL has been the topic of several research analyst reports. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. Stifel Nicolaus cut their target price on Gildan Activewear from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Canaccord Genuity Group upped their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.95.

Gildan Activewear Company 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.