6,027 Shares in Gildan Activewear Inc. (NYSE:GIL) Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC purchased a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,027 shares of the textile maker’s stock, valued at approximately $284,000.

Several other large investors have also made changes to their positions in GIL. Riverview Trust Co bought a new stake in Gildan Activewear during the 3rd quarter valued at approximately $29,000. Blue Trust Inc. raised its position in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the last quarter. Natixis purchased a new position in shares of Gildan Activewear in the first quarter worth $51,000. Cullen Frost Bankers Inc. bought a new position in shares of Gildan Activewear during the second quarter worth $51,000. Finally, Tobam purchased a new position in Gildan Activewear during the second quarter valued at $53,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Trading Up 0.4 %

GIL stock opened at $48.07 on Friday. Gildan Activewear Inc. has a twelve month low of $27.24 and a twelve month high of $48.51. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $45.82 and its two-hundred day simple moving average is $40.46.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Gildan Activewear Inc. will post 2.93 earnings per share for the current 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 issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s payout ratio is currently 33.61%.

Analyst Ratings Changes

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