Gildan Activewear, Inc. (GIL) Position Boosted by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board raised its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,778 shares of the textile maker’s stock after buying an additional 2,331 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Gildan Activewear were worth $2,203,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in GIL. Tobam raised its position in shares of Gildan Activewear by 17.0% during the 2nd quarter. Tobam now owns 126,700 shares of the textile maker’s stock worth $3,888,000 after buying an additional 18,400 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Gildan Activewear in the 1st quarter worth approximately $696,000. Nationwide Fund Advisors acquired a new stake in shares of Gildan Activewear in the 1st quarter worth approximately $1,801,000. Paloma Partners Management Co lifted its stake in shares of Gildan Activewear by 67.3% in the 1st quarter. Paloma Partners Management Co now owns 15,100 shares of the textile maker’s stock worth $408,000 after acquiring an additional 6,074 shares during the period. Finally, Bank of Nova Scotia lifted its stake in shares of Gildan Activewear by 3.2% in the 1st quarter. Bank of Nova Scotia now owns 609,690 shares of the textile maker’s stock worth $16,473,000 after acquiring an additional 18,815 shares during the period. 72.59% of the stock is currently owned by hedge funds and other institutional investors.
GIL has been the subject of several recent analyst reports. Canaccord Genuity set a $32.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 7th. Zacks Investment Research raised Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Monday, June 19th. BMO Capital Markets restated a “buy” rating and issued a $34.00 target price (up from $32.00) on shares of Gildan Activewear in a research report on Friday, August 4th. Finally, TD Securities lowered Gildan Activewear from a “buy” rating to a “hold” rating and increased their price target for the company from $32.00 to $33.00 in a research note on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.14.
Gildan Activewear, Inc. (NYSE:GIL) opened at 31.28 on Monday. The stock has a market cap of $7.02 billion, a PE ratio of 18.93 and a beta of 0.69. Gildan Activewear, Inc. has a 52 week low of $23.55 and a 52 week high of $31.87. The company has a 50-day moving average price of $30.68 and a 200-day moving average price of $29.09.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The business had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. During the same period last year, the company earned $0.41 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Gildan Activewear, Inc. will post $1.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 17th were issued a $0.094 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.20%. Gildan Activewear’s dividend payout ratio is presently 22.42%.
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Gildan Activewear Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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