Net Worth Advisory Group Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Net Worth Advisory Group purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,436 shares of the textile maker’s stock, valued at approximately $350,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIL. Natixis purchased a new position in shares of Gildan Activewear during the first quarter worth about $51,000. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear in the second quarter valued at approximately $51,000. Tobam purchased a new stake in shares of Gildan Activewear during the second quarter worth approximately $53,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Gildan Activewear by 16.9% during the first 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 during the period. Finally, CWM LLC grew its position in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after buying an additional 318 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

GIL stock opened at $47.54 on Monday. The firm has a 50 day moving average of $45.26 and a 200-day moving average of $40.10. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.81 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. Gildan Activewear Inc. has a 12-month low of $27.24 and a 12-month high of $48.01.

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, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. Gildan Activewear’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts expect that Gildan Activewear Inc. will post 2.92 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were given a $0.205 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 annualized dividend and a dividend yield of 1.72%. Gildan Activewear’s dividend payout ratio is presently 27.70%.

Analysts Set New Price Targets

GIL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets increased their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, TD Securities boosted their target price on Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average target price of $45.68.

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.