Capstone Investment Advisors LLC Buys New Shares in Gildan Activewear, Inc. $GIL

Capstone Investment Advisors LLC bought a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,654 shares of the textile maker’s stock, valued at approximately $1,014,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Caisse de depot et placement du Quebec acquired a new stake in shares of Gildan Activewear during the 2nd quarter valued at $601,931,000. Jupiter Topco LLC purchased a new stake in shares of Gildan Activewear during the second quarter valued at $573,363,000. Janus Henderson Group PLC boosted its position in shares of Gildan Activewear by 0.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,593,203 shares of the textile maker’s stock valued at $589,508,000 after purchasing an additional 98,134 shares during the period. Vanguard Group Inc. increased its stake in Gildan Activewear by 26.0% in the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock worth $472,964,000 after purchasing an additional 1,561,729 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Gildan Activewear by 20.9% during the 1st quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock worth $384,629,000 after buying an additional 1,193,718 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Performance

GIL opened at $53.24 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $53.78 and its two-hundred day moving average price is $58.16. The firm has a market capitalization of $9.86 billion, a P/E ratio of 102.39 and a beta of 1.11. Gildan Activewear, Inc. has a 12-month low of $46.55 and a 12-month high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 72.3% compared to the same quarter last year. On average, equities analysts forecast that Gildan Activewear, Inc. will post 4.67 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be paid a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio is presently 190.38%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research upgraded shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. TD Securities reaffirmed a “buy” rating on shares of Gildan Activewear in a research report on Tuesday, June 16th. Royal Bank Of Canada restated an “outperform” rating and set a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $77.00 price objective on shares of Gildan Activewear in a research note on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Gildan Activewear 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.