Nykredit A S Makes New Investment in Gildan Activewear, Inc. $GIL

Nykredit A S purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the 2nd quarter, Holdings Channel reports. The firm purchased 61,263 shares of the textile maker’s stock, valued at approximately $3,157,000.

A number of other large investors have also made changes to their positions in GIL. Barington Companies Management LLC bought a new position in shares of Gildan Activewear during the 4th quarter valued at about $15,941,000. The Manufacturers Life Insurance Company increased its position in shares of Gildan Activewear by 15.7% during the first quarter. The Manufacturers Life Insurance Company now owns 6,706,078 shares of the textile maker’s stock worth $373,122,000 after acquiring an additional 909,001 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Gildan Activewear during the second quarter worth $11,651,000. Wedge Capital Management L L P NC lifted its position in Gildan Activewear by 14.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 613,324 shares of the textile maker’s stock valued at $31,648,000 after acquiring an additional 75,530 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Gildan Activewear by 20.9% during the 1st quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock worth $384,629,000 after purchasing an additional 1,193,718 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Scotia upped their price target on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 31st. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. Scotiabank restated a “sector outperform” rating and set a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Finally, UBS Group lifted their price target on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Gildan Activewear Price Performance

NYSE:GIL 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 12-month low of $46.55 and a 12-month high of $73.69. The stock’s 50 day moving average price is $53.71 and its two-hundred day moving average price is $57.31. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 102.73 and a beta of 1.08.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 72.3% on a year-over-year basis. On average, analysts anticipate that Gildan Activewear, Inc. will post 4.67 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be given a $0.249 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Gildan Activewear’s dividend payout ratio is presently 192.31%.

About Gildan Activewear

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.