99,365 Shares in Gildan Activewear, Inc. $GIL Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, HoldingsChannel.com reports. The firm bought 99,365 shares of the textile maker’s stock, valued at approximately $5,125,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Capstone Investment Advisors LLC acquired a new position in shares of Gildan Activewear in the second quarter worth $1,014,000. Corient Private Wealth LP acquired a new stake in shares of Gildan Activewear in the second quarter valued at $462,000. Bank of America Corp DE purchased a new position in Gildan Activewear in the second quarter valued at $65,193,000. Caisse de depot et placement du Quebec purchased a new position in Gildan Activewear in the second quarter valued at $601,931,000. Finally, Jupiter Topco LLC purchased a new position in Gildan Activewear in the second quarter valued at $573,363,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 2.4%

Shares of Gildan Activewear stock opened at $51.48 on Thursday. The company has a fifty day simple moving average of $53.70 and a 200-day simple moving average of $57.58. Gildan Activewear, Inc. has a 12-month low of $46.55 and a 12-month high of $73.69. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 99.01 and a beta of 1.08.

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

Gildan Activewear Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. Scotia boosted their price objective on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $83.00 target price on shares of Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 31st. Scotiabank reaffirmed a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

About Gildan Activewear

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.