Syon Capital LLC Purchases New Shares in Gildan Activewear Inc. (NYSE:GIL)

Syon Capital LLC purchased a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,624 shares of the textile maker’s stock, valued at approximately $219,000.

A number of other hedge funds also recently bought and sold shares of GIL. Janney Montgomery Scott LLC raised 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 acquiring an additional 1,055 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Gildan Activewear by 60.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,213 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 1,586 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Gildan Activewear in the third quarter worth about $525,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Gildan Activewear during the 3rd quarter valued at about $215,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Gildan Activewear by 20.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 215,698 shares of the textile maker’s stock valued at $6,042,000 after buying an additional 37,144 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. CIBC lifted their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. Citigroup lifted their price objective on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $41.95.

Gildan Activewear Stock Up 0.1 %

Shares of Gildan Activewear stock opened at $37.91 on Wednesday. The firm’s 50 day moving average price is $35.90 and its 200-day moving average price is $34.83. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. Gildan Activewear Inc. has a 52-week low of $26.99 and a 52-week high of $39.07. The company has a market cap of $6.39 billion, a P/E ratio of 12.81, a PEG ratio of 1.43 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The firm had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. During the same quarter in the previous year, the firm earned $0.45 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Wednesday, May 22nd. Gildan Activewear’s payout ratio is currently 27.70%.

Gildan Activewear Profile

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.