Goodnow Investment Group LLC Buys Shares of 574,007 Gildan Activewear, Inc. $GIL

Goodnow Investment Group LLC bought a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, HoldingsChannel reports. The firm bought 574,007 shares of the textile maker’s stock, valued at approximately $29,619,000. Gildan Activewear accounts for 3.1% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Islay Capital Management LLC bought a new stake in shares of Gildan Activewear in the 4th quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in Gildan Activewear by 3,516.7% during the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after acquiring an additional 422 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Gildan Activewear by 161.8% in the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 343 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Gildan Activewear by 14,833.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 445 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Gildan Activewear by 867.9% in the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after acquiring an additional 460 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Performance

GIL opened at $54.90 on Tuesday. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 105.57 and a beta of 1.11. The business’s 50-day moving average price is $53.66 and its two-hundred day moving average price is $58.49. Gildan Activewear, Inc. has a 1 year low of $46.55 and a 1 year high of $73.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.17. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.Gildan Activewear’s revenue for the quarter was up 72.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Equities analysts expect that Gildan Activewear, Inc. will post 4.67 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.249 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Gildan Activewear’s dividend payout ratio is 190.38%.

Analyst Upgrades and Downgrades

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

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.