Envestnet Asset Management Inc. Acquires 86,464 Shares of Gildan Activewear, Inc. (NYSE:GIL)

Envestnet Asset Management Inc. lifted its position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 24.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 433,596 shares of the textile maker’s stock after buying an additional 86,464 shares during the quarter. Envestnet Asset Management Inc. owned about 0.29% of Gildan Activewear worth $19,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GIL. Olde Wealth Management LLC bought a new stake in Gildan Activewear in the 1st quarter valued at $29,000. Versant Capital Management Inc grew its holdings in Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker’s stock worth $33,000 after acquiring an additional 623 shares during the last quarter. GAMMA Investing LLC grew its holdings in Gildan Activewear by 4,323.5% during the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker’s stock worth $33,000 after acquiring an additional 735 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after purchasing an additional 745 shares during the period. Finally, Blue Trust Inc. lifted its position in Gildan Activewear by 69.3% during the 1st quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 547 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Securities increased their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. CIBC cut their price target on Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Scotiabank raised Gildan Activewear to a “strong-buy” rating and set a $55.00 price target for the company in a research note on Wednesday, May 28th. Finally, Barclays initiated coverage on Gildan Activewear in a report on Monday, April 28th. They set an “overweight” rating and a $51.00 price target on the stock. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Gildan Activewear has an average rating of “Buy” and an average price target of $57.91.

Gildan Activewear Trading Up 0.1%

Shares of Gildan Activewear stock opened at $50.54 on Thursday. Gildan Activewear, Inc. has a 1 year low of $37.16 and a 1 year high of $55.39. The firm has a market cap of $7.58 billion, a PE ratio of 19.51, a P/E/G ratio of 1.62 and a beta of 1.19. The stock has a fifty day moving average price of $48.74 and a 200-day moving average price of $47.86. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.91 and a quick ratio of 1.59.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The company had revenue of $711.70 million during the quarter, compared to the consensus estimate of $715.29 million. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.226 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.79%. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.75%.

About Gildan Activewear

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.