Andra AP fonden grew its position in shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 169.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,400 shares of the textile maker’s stock after purchasing an additional 35,500 shares during the quarter. Andra AP fonden’s holdings in Gildan Activewear were worth $2,199,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Commonwealth Bank of Australia increased its holdings in shares of Gildan Activewear by 9.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock valued at $103,000 after purchasing an additional 303 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Gildan Activewear by 133.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 1,988 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of Gildan Activewear by 33.1% during the 2nd quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock valued at $110,000 after purchasing an additional 893 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Gildan Activewear by 43.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock valued at $107,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of Gildan Activewear during the 2nd quarter valued at approximately $209,000. 72.62% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on GIL shares. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 target price on shares of Gildan Activewear in a report on Friday, October 20th. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, August 29th. Finally, Macquarie started coverage on shares of Gildan Activewear in a report on Wednesday, November 1st. They set a “neutral” rating for the company. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Gildan Activewear currently has an average rating of “Hold” and an average target price of $32.20.
Shares of Gildan Activewear, Inc. (NYSE GIL) opened at $30.24 on Friday. Gildan Activewear, Inc. has a one year low of $23.55 and a one year high of $32.15. The stock has a market cap of $6,635.11, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.31 and a beta of 0.74. The company has a quick ratio of 1.72, a current ratio of 5.13 and a debt-to-equity ratio of 0.34.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The firm had revenue of $716.40 million for the quarter, compared to analysts’ expectations of $748.86 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. equities analysts expect that Gildan Activewear, Inc. will post 1.71 earnings per share for the current fiscal year.
Gildan Activewear announced that its board has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase 4,600,000 outstanding shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a $0.094 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.24%. Gildan Activewear’s dividend payout ratio is currently 22.02%.
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Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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