Russell Investments Group Ltd. lifted its position in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 12.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,759 shares of the textile maker’s stock after purchasing an additional 5,231 shares during the period. Russell Investments Group Ltd.’s holdings in Gildan Activewear were worth $1,378,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grandeur Peak Global Advisors LLC increased its position in Gildan Activewear by 3.7% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 508,963 shares of the textile maker’s stock valued at $14,351,000 after acquiring an additional 18,000 shares during the period. Bank of Nova Scotia increased its position in Gildan Activewear by 6.4% in the 2nd quarter. Bank of Nova Scotia now owns 708,946 shares of the textile maker’s stock valued at $19,885,000 after acquiring an additional 42,449 shares during the period. Lingohr & Partner Asset Management GmbH acquired a new position in Gildan Activewear in the 3rd quarter valued at about $1,169,000. Cumberland Partners Ltd acquired a new position in Gildan Activewear in the 2nd quarter valued at about $339,000. Finally, Citadel Advisors LLC increased its position in Gildan Activewear by 1,940.9% in the 2nd quarter. Citadel Advisors LLC now owns 76,306 shares of the textile maker’s stock valued at $2,148,000 after acquiring an additional 80,451 shares during the period. Institutional investors and hedge funds own 69.44% of the company’s stock.
Several equities analysts have issued reports on GIL shares. TheStreet cut Gildan Activewear from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. Raymond James reiterated a “strong-buy” rating and set a $40.00 target price on shares of Gildan Activewear in a research report on Friday, November 2nd. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. ValuEngine upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Finally, Desjardins upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $34.25.
NYSE GIL opened at $32.39 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.79 and a current ratio of 4.94. Gildan Activewear Inc has a 12-month low of $25.33 and a 12-month high of $34.40. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.51 and a beta of 0.75.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The company had revenue of $754.40 million for the quarter, compared to analysts’ expectations of $759.15 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 12.28%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, equities research analysts forecast that Gildan Activewear Inc will post 1.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 14th. Gildan Activewear’s dividend payout ratio (DPR) is 26.16%.
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Gildan Activewear Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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