Overbrook Management Corp boosted its stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 25.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 725,104 shares of the textile maker’s stock after purchasing an additional 145,395 shares during the quarter. Gildan Activewear accounts for about 5.6% of Overbrook Management Corp’s holdings, making the stock its 6th biggest position. Overbrook Management Corp’s holdings in Gildan Activewear were worth $26,082,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pzena Investment Management LLC raised its holdings in Gildan Activewear by 87.2% during the 1st quarter. Pzena Investment Management LLC now owns 3,718,142 shares of the textile maker’s stock worth $133,742,000 after buying an additional 1,732,215 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Gildan Activewear by 89.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock worth $101,577,000 after buying an additional 1,334,579 shares during the period. Norges Bank acquired a new stake in Gildan Activewear during the 4th quarter worth about $66,115,000. Eaton Vance Management raised its holdings in Gildan Activewear by 7.8% during the 4th quarter. Eaton Vance Management now owns 1,648,806 shares of the textile maker’s stock worth $50,058,000 after buying an additional 119,628 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Gildan Activewear by 12.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,579,512 shares of the textile maker’s stock worth $56,810,000 after buying an additional 177,712 shares during the period. Hedge funds and other institutional investors own 68.21% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Gildan Activewear from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. TD Securities upped their target price on Gildan Activewear from $38.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their target price on Gildan Activewear from $34.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. ValuEngine upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Finally, Raymond James reiterated a “strong-buy” rating and issued a $40.00 target price on shares of Gildan Activewear in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Gildan Activewear presently has an average rating of “Hold” and a consensus price target of $29.80.
Shares of GIL traded up $0.06 during trading hours on Wednesday, reaching $37.33. The company’s stock had a trading volume of 12,984 shares, compared to its average volume of 518,867. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.45 and a beta of 0.82. Gildan Activewear Inc has a 1-year low of $25.33 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.92 and a quick ratio of 1.74.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $624.00 million for the quarter, compared to the consensus estimate of $600.17 million. Gildan Activewear had a return on equity of 18.24% and a net margin of 10.59%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Equities research analysts expect that Gildan Activewear Inc will post 1.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $0.134 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.44%. Gildan Activewear’s dividend payout ratio is 29.03%.
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Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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