Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by Cooke & Bieler LP

Cooke & Bieler LP boosted its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 2.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,252,785 shares of the textile maker’s stock after buying an additional 271,273 shares during the period. Gildan Activewear accounts for 3.7% of Cooke & Bieler LP’s investment portfolio, making the stock its largest holding. Cooke & Bieler LP owned approximately 0.06% of Gildan Activewear worth $388,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. EverSource Wealth Advisors LLC raised its holdings in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 274 shares in the last quarter. CWM LLC raised its holdings in shares of Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 498 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Gildan Activewear by 1.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after purchasing an additional 535 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Gildan Activewear by 11.7% during the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock worth $271,000 after purchasing an additional 747 shares in the last quarter. Finally, Addenda Capital Inc. increased its holdings in Gildan Activewear by 0.4% in the first quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock valued at $7,898,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GIL shares. BMO Capital Markets raised their target price on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and raised their price objective for the stock from $39.00 to $51.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Gildan Activewear Stock Performance

Shares of GIL stock traded down $0.31 during midday trading on Wednesday, hitting $44.14. The company had a trading volume of 262,668 shares, compared to its average volume of 766,298. Gildan Activewear Inc. has a 52-week low of $26.99 and a 52-week high of $45.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The company’s 50 day simple moving average is $40.72 and its 200 day simple moving average is $37.59. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.74 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Research analysts anticipate that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 annualized dividend and a dividend yield of 1.86%. Gildan Activewear’s dividend payout ratio is currently 27.70%.

Gildan Activewear 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.