Assenagon Asset Management S.A. Acquires 747 Shares of Gildan Activewear Inc. (NYSE:GIL)

Assenagon Asset Management S.A. increased its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 11.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,156 shares of the textile maker’s stock after purchasing an additional 747 shares during the period. Assenagon Asset Management S.A.’s holdings in Gildan Activewear were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GIL. Raymond James & Associates bought a new position in shares of Gildan Activewear in the fourth quarter worth approximately $220,000. Signaturefd LLC boosted its holdings in Gildan Activewear by 30.7% in the fourth quarter. Signaturefd LLC now owns 5,364 shares of the textile maker’s stock valued at $177,000 after acquiring an additional 1,260 shares in the last quarter. CWM LLC raised its holdings in Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after purchasing an additional 498 shares in the last quarter. Duality Advisers LP bought a new position in Gildan Activewear in the 4th quarter worth $301,000. Finally, Syon Capital LLC purchased a new stake in shares of Gildan Activewear in the 4th quarter worth about $219,000. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $42.53 on Friday. The company has a market capitalization of $7.05 billion, a PE ratio of 14.37, a PEG ratio of 1.56 and a beta of 1.43. The business has a fifty day moving average price of $39.75 and a 200-day moving average price of $37.04. Gildan Activewear Inc. has a 1-year low of $26.99 and a 1-year high of $43.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.62%. Gildan Activewear’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. As a group, equities analysts expect that Gildan Activewear Inc. will post 2.95 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 22nd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 1.93%. Gildan Activewear’s payout ratio is currently 27.70%.

Analyst Upgrades and Downgrades

GIL has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada increased their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets lifted their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and upped their price target for the stock from $39.00 to $51.00 in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price objective on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.50.

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.