SYSTM Wealth Solutions LLC Purchases 674 Shares of Gildan Activewear Inc. (NYSE:GIL)

SYSTM Wealth Solutions LLC grew its position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 33.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,709 shares of the textile maker’s stock after acquiring an additional 674 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Gildan Activewear were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIL. Dimensional Fund Advisors LP lifted its position in Gildan Activewear by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,148,030 shares of the textile maker’s stock worth $43,533,000 after buying an additional 110,704 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Gildan Activewear by 12.3% during the second quarter. Envestnet Asset Management Inc. now owns 315,851 shares of the textile maker’s stock worth $11,977,000 after acquiring an additional 34,534 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Gildan Activewear by 11.0% in the 2nd quarter. Zions Bancorporation N.A. now owns 11,090 shares of the textile maker’s stock worth $421,000 after acquiring an additional 1,099 shares during the last quarter. Forsta AP Fonden purchased a new stake in shares of Gildan Activewear in the 2nd quarter valued at $1,494,000. Finally, American Century Companies Inc. grew its holdings in shares of Gildan Activewear by 43.9% during the 2nd quarter. American Century Companies Inc. now owns 122,159 shares of the textile maker’s stock valued at $4,633,000 after purchasing an additional 37,288 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

GIL opened at $46.31 on Friday. 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 stock has a market capitalization of $7.67 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. The stock’s 50 day moving average price is $42.30 and its 200-day moving average price is $38.39. Gildan Activewear Inc. has a 52-week low of $26.99 and a 52-week high of $46.68.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same period in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 1.77%. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.70%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stifel Nicolaus raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $51.00 in a research note on Friday, August 2nd. Royal Bank of Canada boosted 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. Finally, BMO Capital Markets raised their price target on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.