Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,131 shares of the textile maker’s stock after selling 1,082 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Gildan Activewear worth $6,831,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Zions Bancorporation N.A. acquired a new stake in Gildan Activewear in the 1st quarter valued at about $26,000. Beutel Goodman & Co Ltd. acquired a new stake in Gildan Activewear in the 1st quarter valued at about $56,000. Wetherby Asset Management Inc. acquired a new stake in Gildan Activewear in the 2nd quarter valued at about $205,000. Scout Investments Inc. acquired a new stake in Gildan Activewear in the 1st quarter valued at about $222,000. Finally, Quadrant Capital Group LLC increased its position in Gildan Activewear by 50.0% in the 1st quarter. Quadrant Capital Group LLC now owns 6,174 shares of the textile maker’s stock valued at $218,000 after acquiring an additional 2,058 shares in the last quarter. 68.62% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:GIL traded up $0.34 during trading on Tuesday, hitting $37.17. 16,451 shares of the company’s stock were exchanged, compared to its average volume of 434,939. Gildan Activewear Inc has a 1-year low of $28.11 and a 1-year high of $40.40. The company’s 50-day moving average is $38.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.32 and a beta of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. The company had revenue of $801.60 million during the quarter, compared to analysts’ expectations of $793.91 million. During the same quarter in the previous year, the company earned $0.52 EPS. Gildan Activewear’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Gildan Activewear Inc will post 1.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.236 per share. This represents a $0.94 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 14th. Gildan Activewear’s dividend payout ratio is 29.03%.

Several equities research analysts have weighed in on the stock. ValuEngine cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Securities upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Desjardins upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Citigroup raised their price objective on shares of Gildan Activewear from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Raymond James restated a “strong-buy” rating and issued a $14.00 price objective on shares of Gildan Activewear in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $34.16.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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