Wellington Management Group LLP Buys New Position in Gildan Activewear, Inc. $GIL

Wellington Management Group LLP bought a new stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 78,183 shares of the textile maker’s stock, valued at approximately $4,029,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIL. Caisse de depot et placement du Quebec acquired a new stake in shares of Gildan Activewear in the 2nd quarter worth approximately $601,931,000. Jupiter Topco LLC acquired a new position in shares of Gildan Activewear during the second quarter valued at approximately $573,363,000. Janus Henderson Group PLC increased its stake in shares of Gildan Activewear by 0.9% during the first quarter. Janus Henderson Group PLC now owns 10,593,203 shares of the textile maker’s stock valued at $589,508,000 after acquiring an additional 98,134 shares during the period. Royal Bank of Canada raised its holdings in Gildan Activewear by 20.9% during the first quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock worth $384,629,000 after purchasing an additional 1,193,718 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Gildan Activewear by 41.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock worth $429,382,000 after purchasing an additional 2,001,279 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Trading Down 2.0%

Gildan Activewear stock opened at $50.53 on Thursday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 97.17 and a beta of 1.08. Gildan Activewear, Inc. has a 1 year low of $46.55 and a 1 year high of $73.69. The firm’s 50 day moving average price is $53.73 and its two-hundred day moving average price is $56.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93.

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

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders 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 dividend yield of 2.0%. Gildan Activewear’s payout ratio is 192.31%.

Wall Street Analyst Weigh In

GIL has been the subject of a number of research reports. Scotia increased their price target on Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. Citigroup reaffirmed a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. Scotiabank reiterated a “sector outperform” rating and issued a $67.00 price target (up from $65.00) on shares of Gildan Activewear in a research report 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 assigned a Hold rating to the company. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Gildan Activewear Company 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.