Headlands Technologies LLC Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Headlands Technologies LLC purchased a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,492 shares of the textile maker’s stock, valued at approximately $284,000.

A number of other hedge funds have also made changes to their positions in GIL. Natixis purchased a new stake in Gildan Activewear during the 1st quarter worth about $51,000. Cullen Frost Bankers Inc. purchased a new stake in Gildan Activewear during the 2nd quarter worth about $51,000. Tobam purchased a new stake in Gildan Activewear during the 2nd quarter worth about $53,000. EverSource Wealth Advisors LLC increased its position in Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Gildan Activewear by 69.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GIL shares. Stifel Nicolaus upgraded Gildan Activewear from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $51.00 in a research report on Friday, August 2nd. BMO Capital Markets lifted their price objective on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price target on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Gildan Activewear Stock Performance

NYSE GIL opened at $45.00 on Friday. The firm has a market capitalization of $7.30 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.71 and a beta of 1.43. Gildan Activewear Inc. has a 1-year low of $26.99 and a 1-year high of $45.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The business’s 50-day simple moving average is $41.74 and its 200-day simple moving average is $38.08.

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 the consensus estimate of $0.71 by $0.03. The business had revenue of $862.20 million for 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 company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Equities analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is currently 27.70%.

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.