Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Creative Planning

Creative Planning raised its stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 26.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,743 shares of the textile maker’s stock after purchasing an additional 2,456 shares during the period. Creative Planning’s holdings in Gildan Activewear were worth $445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cooke & Bieler LP boosted its position in shares of Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after acquiring an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. raised its position in shares of Gildan Activewear by 1.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock valued at $110,197,000 after buying an additional 42,094 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after acquiring an additional 324,304 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after acquiring an additional 407,113 shares during the period. Finally, Anson Funds Management LP increased its stake in Gildan Activewear by 13.8% during the first quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock worth $66,521,000 after acquiring an additional 216,705 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

Shares of GIL opened at $47.53 on Wednesday. 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 firm has a market cap of $7.87 billion, a PE ratio of 16.06, a PEG ratio of 1.81 and a beta of 1.43. Gildan Activewear Inc. has a twelve month low of $27.24 and a twelve month high of $48.01. The firm’s 50 day moving average price is $44.87 and its 200 day moving average price is $39.87.

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

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is 27.70%.

Analysts Set New Price Targets

Several brokerages have weighed in on GIL. Royal Bank of Canada increased their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets boosted their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.77.

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.