Gildan Activewear Inc. (NYSE:GIL) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,446 shares of the textile maker’s stock after buying an additional 2,713 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gildan Activewear were worth $1,743,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GIL. Natixis Advisors L.P. boosted its holdings in shares of Gildan Activewear by 2.5% during the third quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock valued at $370,000 after acquiring an additional 324 shares during the period. Avior Wealth Management LLC boosted its stake in Gildan Activewear by 1.5% during the 3rd quarter. Avior Wealth Management LLC now owns 27,704 shares of the textile maker’s stock valued at $776,000 after purchasing an additional 400 shares during the period. EverSource Wealth Advisors LLC grew its position in Gildan Activewear by 120.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after purchasing an additional 900 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Gildan Activewear by 5.1% in the third quarter. Janney Montgomery Scott LLC now owns 21,820 shares of the textile maker’s stock valued at $611,000 after purchasing an additional 1,055 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Gildan Activewear by 39.3% during the third quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock valued at $115,000 after buying an additional 1,158 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of GIL opened at $35.64 on Thursday. Gildan Activewear Inc. has a 12-month low of $26.98 and a 12-month high of $38.87. The stock has a market capitalization of $6.01 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.32 and a beta of 1.38. The firm’s 50 day moving average is $35.55 and its 200-day moving average is $33.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $782.70 million for the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Equities research analysts anticipate that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were paid a $0.205 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.82 dividend on an annualized basis and a yield of 2.30%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.06%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GIL. TD Securities increased their price objective on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Stifel Nicolaus raised their price target on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. CIBC upped their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Scotiabank raised their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. Finally, Citigroup upped their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.