19,654 Shares in Gildan Activewear, Inc. $GIL Purchased by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC purchased a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 19,654 shares of the textile maker’s stock, valued at approximately $1,014,000.

Several other large investors have also recently added to or reduced their stakes in GIL. Fifth Third Bancorp grew its holdings in shares of Gildan Activewear by 16.5% during the 1st quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker’s stock worth $75,000 after purchasing an additional 192 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Gildan Activewear by 2.2% in the 4th quarter. Arkadios Wealth Advisors now owns 8,787 shares of the textile maker’s stock valued at $549,000 after buying an additional 193 shares in the last quarter. Tacita Capital Inc lifted its holdings in shares of Gildan Activewear by 1.9% during the 4th quarter. Tacita Capital Inc now owns 11,250 shares of the textile maker’s stock worth $704,000 after acquiring an additional 211 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Gildan Activewear by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 12,510 shares of the textile maker’s stock worth $616,000 after acquiring an additional 259 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Gildan Activewear by 169.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 338 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GIL. Stifel Nicolaus set a $83.00 price target on shares of Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $82.00 price objective (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Scotiabank reiterated a “sector outperform” rating and issued a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. Finally, UBS Group raised their target price on Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Gildan Activewear Trading Down 0.6%

Shares of Gildan Activewear stock opened at $53.24 on Friday. Gildan Activewear, Inc. has a 12-month low of $46.55 and a 12-month high of $73.69. The stock has a market capitalization of $9.86 billion, a P/E ratio of 102.39 and a beta of 1.11. The company has a 50-day simple moving average of $53.78 and a 200 day simple moving average of $58.16. 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 (NYSE:GIL) (TSE:GIL) last released its quarterly 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. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The company’s revenue for the quarter was up 72.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. Research analysts expect that Gildan Activewear, Inc. will post 4.67 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be issued a $0.249 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, August 20th. Gildan Activewear’s payout ratio is presently 190.38%.

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.