OMERS ADMINISTRATION Corp Takes Position in Gildan Activewear, Inc. $GIL

OMERS ADMINISTRATION Corp purchased a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 83,300 shares of the textile maker’s stock, valued at approximately $4,293,000.

Other hedge funds have also recently bought and sold shares of the company. Islay Capital Management LLC purchased a new stake in Gildan Activewear during the fourth quarter worth $25,000. Larson Financial Group LLC raised its stake in shares of Gildan Activewear by 3,516.7% during the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after buying an additional 422 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after buying an additional 445 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after buying an additional 460 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Gildan Activewear by 169.0% in 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 during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

NYSE GIL opened at $54.60 on Wednesday. The business’s 50-day moving average price is $53.74 and its 200 day moving average price is $58.39. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. Gildan Activewear, Inc. has a twelve month low of $46.55 and a twelve month high of $73.69. The company has a market capitalization of $10.11 billion, a PE ratio of 105.00 and a beta of 1.11.

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

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be issued a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s payout ratio is presently 192.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GIL. Scotiabank restated a “sector outperform” rating and set a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Zacks Research upgraded shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. Stifel Nicolaus set a $83.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Scotia lifted their price objective 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. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Gildan Activewear 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.