Vanguard Group Inc. Has $268.11 Million Stake in Gildan Activewear, Inc. $GIL

Vanguard Group Inc. decreased its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,064,554 shares of the textile maker’s stock after selling 18,932 shares during the quarter. Vanguard Group Inc. owned approximately 4.00% of Gildan Activewear worth $268,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in shares of Gildan Activewear by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker’s stock valued at $327,950,000 after acquiring an additional 128,674 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Gildan Activewear by 2.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,738,691 shares of the textile maker’s stock worth $121,073,000 after buying an additional 56,400 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock worth $83,394,000 after buying an additional 1,300,121 shares during the period. Alberta Investment Management Corp lifted its holdings in Gildan Activewear by 28.7% during the 1st quarter. Alberta Investment Management Corp now owns 1,589,001 shares of the textile maker’s stock worth $70,240,000 after buying an additional 354,201 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Gildan Activewear by 15.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,523,077 shares of the textile maker’s stock worth $71,660,000 after buying an additional 206,569 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $56.44 on Monday. Gildan Activewear, Inc. has a one year low of $37.16 and a one year high of $57.76. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.81 and a beta of 1.17. The business has a 50-day simple moving average of $50.47 and a 200 day simple moving average of $48.37. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 21st. Gildan Activewear’s payout ratio is currently 28.57%.

Analyst Ratings Changes

Several research analysts have commented on GIL shares. UBS Group lifted their target price on Gildan Activewear from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. TD Securities lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Cfra Research raised Gildan Activewear to a “hold” rating in a report on Monday, August 4th. National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $64.58.

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.