12,540 Shares in Gildan Activewear Inc. (NYSE:GIL) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,540 shares of the textile maker’s stock, valued at approximately $591,000.

Several other institutional investors also recently bought and sold shares of GIL. Riverview Trust Co acquired a new position in Gildan Activewear during the 3rd quarter worth $29,000. Blue Trust Inc. grew 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 worth $38,000 after buying an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Gildan Activewear during the second quarter worth approximately $51,000. Tobam acquired a new stake in Gildan Activewear in the second quarter valued at approximately $53,000. Finally, CWM LLC raised its holdings in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Securities raised their price target on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Citigroup lifted their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. CIBC increased their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Trading Up 0.0 %

NYSE:GIL opened at $46.78 on Friday. The company has a market capitalization of $7.15 billion, a PE ratio of 18.49, a P/E/G ratio of 1.82 and a beta of 1.40. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.60. The stock’s 50 day moving average price is $48.59 and its 200 day moving average price is $44.18. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, research analysts anticipate that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.152 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.30%. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

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.