Signaturefd LLC Raises Stake in Gildan Activewear Inc. (NYSE:GIL)

Signaturefd LLC boosted its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 50.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,794 shares of the textile maker’s stock after buying an additional 2,604 shares during the period. Signaturefd LLC’s holdings in Gildan Activewear were worth $296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after acquiring an additional 274 shares in the last quarter. CWM LLC boosted its position in Gildan Activewear by 86.5% during 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 during the period. Orion Portfolio Solutions LLC increased its holdings in Gildan Activewear by 1.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock valued at $1,333,000 after purchasing an additional 535 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Gildan Activewear by 11.7% in the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock valued at $271,000 after purchasing an additional 747 shares during the period. Finally, Addenda Capital Inc. lifted its stake in shares of Gildan Activewear by 0.4% during the first quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock worth $7,898,000 after purchasing an additional 800 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Up 1.2 %

NYSE:GIL opened at $45.63 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. Gildan Activewear Inc. has a one year low of $26.99 and a one year high of $45.65. The stock has a 50-day simple moving average of $40.44 and a 200 day simple moving average of $37.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Sell-side analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.80%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Analysts Set New Price Targets

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

Gildan Activewear Company 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.