Nationwide Fund Advisors Has $1,480,000 Position in Gildan Activewear Inc. (GIL)
Nationwide Fund Advisors held its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the third quarter, according to its most recent disclosure with the SEC. The fund owned 52,962 shares of the company’s stock at the end of the third quarter. Nationwide Fund Advisors’ holdings in Gildan Activewear were worth $1,480,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of GIL. Quantitative Investment Management LLC purchased a new stake in shares of Gildan Activewear during the second quarter worth $284,000. Quantbot Technologies LP purchased a new stake in shares of Gildan Activewear during the second quarter worth $211,000. World Asset Management Inc boosted its stake in shares of Gildan Activewear by 6.8% in the second quarter. World Asset Management Inc now owns 14,876 shares of the company’s stock worth $436,000 after buying an additional 945 shares during the last quarter. AGF Investments Inc. boosted its stake in shares of Gildan Activewear by 121.1% in the second quarter. AGF Investments Inc. now owns 6,414 shares of the company’s stock worth $188,000 after buying an additional 3,513 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gildan Activewear by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 316,355 shares of the company’s stock worth $9,279,000 after buying an additional 3,159 shares during the last quarter. 72.61% of the stock is owned by institutional investors and hedge funds.
Gildan Activewear Inc. (NYSE:GIL) traded up 1.28% during mid-day trading on Monday, hitting $27.73. The stock had a trading volume of 916,885 shares. The firm has a market cap of $6.43 billion, a PE ratio of 19.47 and a beta of 1.24. The company has a 50-day moving average of $26.32 and a 200-day moving average of $28.58. Gildan Activewear Inc. has a 12-month low of $22.43 and a 12-month high of $32.20.
Gildan Activewear (NYSE:GIL) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.01. Gildan Activewear had a net margin of 13.38% and a return on equity of 16.67%. The company earned $715 million during the quarter, compared to analyst estimates of $723.97 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that Gildan Activewear Inc. will post $1.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be issued a $0.078 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $0.31 annualized dividend and a yield of 1.13%. Gildan Activewear’s dividend payout ratio is currently 21.68%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. RBC Capital Markets reissued an “outperform” rating and set a $44.50 target price on shares of Gildan Activewear in a research note on Monday, October 17th. Citigroup Inc. reissued a “neutral” rating on shares of Gildan Activewear in a research note on Wednesday, November 16th. Canaccord Genuity set a $31.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research note on Monday, November 14th. Finally, Credit Suisse Group AG set a $43.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, November 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.86.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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