Nissay Asset Management Corp Japan ADV increased its holdings in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 79.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,194 shares of the textile maker’s stock after acquiring an additional 12,446 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Gildan Activewear were worth $858,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GIL. Vaughan Nelson Investment Management L.P. bought a new position in shares of Gildan Activewear in the second quarter valued at approximately $26,410,000. Toronto Dominion Bank grew its holdings in shares of Gildan Activewear by 131.4% in the second quarter. Toronto Dominion Bank now owns 1,219,834 shares of the textile maker’s stock valued at $34,932,000 after acquiring an additional 692,696 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Gildan Activewear by 284.5% in the second quarter. Canada Pension Plan Investment Board now owns 769,163 shares of the textile maker’s stock valued at $21,652,000 after acquiring an additional 569,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Gildan Activewear by 82.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,216,400 shares of the textile maker’s stock valued at $34,242,000 after acquiring an additional 548,300 shares in the last quarter. Finally, Addenda Capital Inc. grew its holdings in shares of Gildan Activewear by 96.8% in the second quarter. Addenda Capital Inc. now owns 665,512 shares of the textile maker’s stock valued at $19,014,000 after acquiring an additional 327,321 shares in the last quarter. 70.76% of the stock is owned by institutional investors.
Gildan Activewear stock opened at $31.52 on Tuesday. Gildan Activewear Inc has a 12 month low of $25.33 and a 12 month high of $34.19. The company has a current ratio of 4.94, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.45 billion, a P/E ratio of 17.89, a PEG ratio of 1.43 and a beta of 0.72.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Gildan Activewear had a return on equity of 18.80% and a net margin of 12.28%. The business had revenue of $754.40 million for the quarter, compared to the consensus estimate of $759.15 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Gildan Activewear’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts predict that Gildan Activewear Inc will post 1.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.34 annualized dividend and a yield of 1.08%. Gildan Activewear’s payout ratio is 26.16%.
Several equities analysts have recently issued reports on GIL shares. Bank of America lowered Gildan Activewear from a “buy” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $26.00 in a report on Tuesday, July 24th. ValuEngine raised Gildan Activewear from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Desjardins lowered Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. Royal Bank of Canada upped their target price on Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Friday, August 3rd. Finally, TD Securities upped their target price on Gildan Activewear from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $34.25.
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About Gildan Activewear
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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