Tacita Capital Inc Takes $589,000 Position in Gildan Activewear, Inc. $GIL

Tacita Capital Inc bought a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,452 shares of the textile maker’s stock, valued at approximately $589,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Islay Capital Management LLC bought a new stake in Gildan Activewear during the 4th quarter valued at $25,000. Larson Financial Group LLC increased its position in shares of Gildan Activewear by 3,516.7% in the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 422 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Gildan Activewear by 161.8% during the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 343 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Gildan Activewear by 14,833.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 445 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Gildan Activewear by 867.9% during the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $57.06 on Thursday. Gildan Activewear, Inc. has a 1 year low of $46.55 and a 1 year high of $73.69. 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 company’s 50-day moving average is $53.98 and its 200 day moving average is $58.71. The stock has a market capitalization of $10.57 billion, a P/E ratio of 109.73 and a beta of 1.11.

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

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Thursday, August 20th will be paid a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 192.31%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GIL shares. Scotia boosted their price target on Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a report on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 price objective (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $77.00 target price on shares of Gildan Activewear in a research note on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.