Ararat Capital Management LP Acquires 2,304 Shares of Gildan Activewear Inc. (NYSE:GIL)

Ararat Capital Management LP raised its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 0.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 405,393 shares of the textile maker’s stock after acquiring an additional 2,304 shares during the quarter. Gildan Activewear makes up about 7.6% of Ararat Capital Management LP’s portfolio, making the stock its 5th largest holding. Ararat Capital Management LP owned about 0.27% of Gildan Activewear worth $19,074,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GIL. Forge First Asset Management Inc. increased its holdings in Gildan Activewear by 108.0% in the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock valued at $2,191,000 after purchasing an additional 24,200 shares during the period. CIBC Asset Management Inc increased its stake in shares of Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after buying an additional 1,022,695 shares during the period. Truist Financial Corp raised its position in shares of Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock worth $913,000 after acquiring an additional 8,430 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Gildan Activewear by 80.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker’s stock worth $11,568,000 after acquiring an additional 109,993 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Gildan Activewear by 776.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock valued at $38,414,000 after acquiring an additional 723,962 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GIL. TD Securities upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets lifted their price objective on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Stifel Nicolaus upped their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $58.20.

Gildan Activewear Trading Up 3.0 %

NYSE GIL opened at $47.41 on Friday. Gildan Activewear Inc. has a 52 week low of $32.32 and a 52 week high of $55.39. The business has a 50 day moving average price of $44.93 and a 200-day moving average price of $47.80. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.76 and a beta of 1.16.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. As a group, equities analysts expect that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio is currently 34.75%.

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.