Nykredit A S Purchases New Position in Gildan Activewear, Inc. $GIL

Nykredit A S purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 61,263 shares of the textile maker’s stock, valued at approximately $3,157,000.

Several other hedge funds also recently modified their holdings of the company. Caisse de depot et placement du Quebec acquired a new stake in Gildan Activewear during the 2nd quarter valued at $601,931,000. Jupiter Topco LLC acquired a new position in Gildan Activewear in the second quarter worth $573,363,000. The Manufacturers Life Insurance Company bought a new stake in shares of Gildan Activewear during the second quarter worth $234,764,000. Norges Bank bought a new stake in shares of Gildan Activewear during the fourth quarter worth $151,018,000. Finally, Mackenzie Financial Corp increased its stake in shares of Gildan Activewear by 41.2% in the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock valued at $429,382,000 after buying an additional 2,001,279 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GIL shares. Scotiabank reaffirmed a “sector outperform” rating and issued a $67.00 price target (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Stifel Nicolaus set a $83.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. Finally, TD Securities reissued a “buy” rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Gildan Activewear Stock Up 0.0%

Shares of NYSE:GIL opened at $53.42 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 102.73 and a beta of 1.08. The company has a 50 day moving average of $53.71 and a 200-day moving average of $57.31. Gildan Activewear, Inc. has a one year low of $46.55 and a one year high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share (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 analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 72.3% on a year-over-year basis. On average, sell-side 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 disclosed 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. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Gildan Activewear’s payout ratio is 192.31%.

Gildan Activewear Company 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.