Gildan Activewear, Inc. (GIL) Position Boosted by State of Wisconsin Investment Board
State of Wisconsin Investment Board increased its stake in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 98.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 168,814 shares of the textile maker’s stock after buying an additional 83,700 shares during the period. State of Wisconsin Investment Board owned about 0.07% of Gildan Activewear worth $5,180,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Gildan Activewear by 906.8% in the first quarter. Sei Investments Co. now owns 49,255 shares of the textile maker’s stock valued at $1,332,000 after buying an additional 44,363 shares during the period. Karp Capital Management Corp bought a new stake in Gildan Activewear during the first quarter valued at $2,467,000. World Asset Management Inc boosted its stake in Gildan Activewear by 0.7% in the first quarter. World Asset Management Inc now owns 14,512 shares of the textile maker’s stock valued at $392,000 after buying an additional 105 shares during the period. Comerica Bank boosted its stake in Gildan Activewear by 1.2% in the first quarter. Comerica Bank now owns 13,687 shares of the textile maker’s stock valued at $384,000 after buying an additional 164 shares during the period. Finally, US Bancorp DE boosted its stake in Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock valued at $101,000 after buying an additional 725 shares during the period. Institutional investors and hedge funds own 72.57% of the company’s stock.
Shares of Gildan Activewear, Inc. (GIL) opened at 31.30 on Friday. Gildan Activewear, Inc. has a one year low of $23.55 and a one year high of $31.83. The stock’s 50 day moving average is $30.35 and its 200-day moving average is $28.53. The company has a market cap of $7.03 billion, a PE ratio of 18.95 and a beta of 0.72.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Equities research analysts expect that Gildan Activewear, Inc. will post $1.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.094 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 annualized dividend and a dividend yield of 1.20%. Gildan Activewear’s dividend payout ratio is currently 22.42%.
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Several analysts recently weighed in on the stock. CIBC upgraded shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Zacks Investment Research cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada cut shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a report on Tuesday, July 11th. Canaccord Genuity cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Wednesday, July 12th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of Gildan Activewear in a report 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 currently has a consensus rating of “Hold” and a consensus price target of $35.29.
About Gildan Activewear
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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